General Discussion

No Vested Interest

(5,164 posts)

17. It sounds as though you're plenty familiar with the ins and outs of retirement finance.

Wed Dec 26, 2018, 12:57 AM

Dec 2018

That's a good thing.

The IRA was originally my spouse's, so I inherited it, and, God willing, our children will inherit the balance.

I am no longer eligible to convert traditional IRA to Roth, because total income is too great. While we were a two-person household it was possible tax-wise, and we have a smallish one, but not after I became a single person.

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I was at a small dinner party the other night. Towards the end of the evening a conversation [View all] Augiedog Dec 2018 OP

Not to take away from his feelings and comments, but.. pangaia Dec 2018 #1

That is true. N/t TexasBushwhacker Dec 2018 #2

Even if he was entirely invested in bonds he would be at a loss for the year progree Dec 2018 #4

Same here I am almost 71. I have the recomended 40% of my IRA in stocks and doc03 Dec 2018 #9

Ideally the stocks and bonds are highly rated, and pay dividends and interest to help stretch things still_one Dec 2018 #28

For what it is worth, I am in all 1-3 year Treasuries and bank CDs, about as safe as it can get. pangaia Dec 2018 #14

You won't, unless the government literally falls, and then it really doesn't matter because everyone still_one Dec 2018 #29

I'm in a 3% pre-tax savings account, so, I have no risk at all. I might have made a little money lindysalsagal Dec 2018 #33

Yep, my dad is 90 and wants to kick repug butt every day. FM123 Dec 2018 #3

I'm 88 and smack the TV whenever he appears. katmondoo Dec 2018 #5

Wow! Cha Dec 2018 #24

If he's 80 years old, he's lost money several times before. marybourg Dec 2018 #6

Trump diserves the blame for this, just as the bush administration deserved the blame for the still_one Dec 2018 #30

And this is the fundamental problem with 401ks and how the public was sold on them. llmart Dec 2018 #7

I have one minor correction to make rufus dog Dec 2018 #26

You may be correct or maybe different pundits said different amounts. llmart Dec 2018 #32

they sold everyone that "put $20 a week in and you'll be a millionaire" not accounting Demovictory9 Dec 2018 #27

I'm in that age bracket, well diversified financially, and am down 10% of portfolio YTD. No Vested Interest Dec 2018 #8

Your RMD this year is based on your 12/31/2017 value progree Dec 2018 #10

I worded that clumsily. I should have said my RMD for 2019 will be lower because of No Vested Interest Dec 2018 #12

Yup, I made the same error on my first try (2018 v. 2019). I too am done with my 2018 IRA RMD progree Dec 2018 #16

I don't think your MRD going down is a good thing doc03 Dec 2018 #11

Believe it or not, I've had more than I need the last 2 or 3 yrs. No Vested Interest Dec 2018 #13

Of course it is bad to have a lower RMD because the account value has gone down progree Dec 2018 #15

It sounds as though you're plenty familiar with the ins and outs of retirement finance. No Vested Interest Dec 2018 #17

No income cap on Roth conversions in 2018 or 2019, if my Googling got the right hits progree Dec 2018 #19

That's interesting, re removal of the income cap. My advisors have not told me of that, No Vested Interest Dec 2018 #21

I've been converting a little at a time since 1998 ... based on my tax person's advice progree Dec 2018 #22

A backdoor contribution to a Roth IRA could make sense at any age??? progree Dec 2018 #23

I do not have earned income, so cannot contribute to IRAs. nt No Vested Interest Dec 2018 #25

Myself I have been converting some of my IRA over to a Roth each year. In addition to my doc03 Dec 2018 #18

Sounds smart to me. Good luck! nm progree Dec 2018 #20

That is the way to go. I have been slowly doing that myself. It is a smart strategy, as long as still_one Dec 2018 #31

We are retiring next year. phylny Dec 2018 #34

The sad thing is that they will continue to vote for these assholes. Initech Dec 2018 #35