No. of Recommendations: 2
Even if you plan things out and your results aren't perfect, they'll probably be better than the "don't do any planning and hope for the best" method.

I discovered that in 2014 when I was 69. My goal that year was to pay no Federal or state income taxes before I had to start RMD withdrawals. The last year that I paid no Federal or state income taxes was 1958 when I was 13.

I did achieve my goal on state income taxes but, unfortunately, I did have to pay $134.00 in Federal income taxes. :(

The best laid schemes o' mice an' men gang aft a-gley.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement