patrick.net

Maga_Chaos_Monkey says

I definitely appreciate the tips from the guys on here further down the retirement path.

That's wisdom right there. Also I agree with your strategy to max the ROTH. I've got too much in my deferred and not enough in my ROTH. I do consider my HSA a ROTH though - as someone mentioned above there's really no way for the government to keep track of what I'm spending HSA money on and I've got decades of medical costs to offset any one given year.

These are the things that I had no idea about at 55 but at 60 consume an inordinate amount of my thinking :

ACA PTC
IRRMA
RMD's
NIIT.

I'm sure there's going to be more surprises as I age. It's all bullshit too, because I'm sure that the healthcare system will extract every nickel we have in the last two or three years of our lives anyway.

Ceffer says

There are those who make it a mission just for the 'satisfaction' of not paying the taxes (although they did, just prepaid).

Putting money into a Roth does not create any additional taxes. You were taxed on that money when it was earned, regardless of whether you used that money to buy a Corvette or invest.

stfu says

ACA PTC
IRRMA
RMD's <------ If that's required minimum distributions then I've heard of that one, the others I have not.
NIIT.

Looks like I've got some 'fun' reading to do after work....

I would expect IRMMA to affect everyone here.

What is in my variable annuity are called "sub accounts" which are identical to mutual funds; one of mine is managed by Primecap, which also is managing a fund at Vanguard called Primecap. Neither mutual funds, nor sub accounts can go "bankrupt."

What's bankrupt is the US government, not insurance companies; insurance companies own a lot of the USA debt which is used to pay people who buy an immediate fixed annuity.

HSA accounts cannot be spent tax free on anything and everything; but you can spend them eventually either way.

There is no RMD for a variable annuity, nor Roth, nor an HSA. There is also no RMD for a mutual fund in a regular account.

zzyzzx says

I would expect IRMMA to affect everyone here.

Yep, eventually, and likely some Roth max income limitations as well.

clambo says

HSA accounts cannot be spent tax free on anything and everything; but you can spend them eventually either way.

yeah, you're right. At 65 the penalty for non-medical expenses goes away but if you do that you're on the hook for income taxes

Ceffer says

Apparently this AI is unaware of the backdoor and mega backdoor options