For 401K, traditional IRA, and the like, the feds set a anticipated death year
that sets the percentage of last year end value you need to remove, a Required
Minimum Deduction RMD or Minimum Required Deduction MDR. The account custodian
may do it for you in early December of the next year if yo
While I am not a financial professional, I would also think that the popular 4%
withdrawal rule is not for everyone.
Everyone should look at financial picture in totality as investments and social
security (or pension) benefits are just a small piece of that pie as you need
to consider your sp
Thanks for that, Alice. I didn't know that existed, but I'll find it useful.
Stan Brown
Tehachapi, CA, USA
https://BrownMath.com
On 2024-10-06 15:02, NoobAlice via gnucash-user wrote:
> For those of us in the USA, the federal BLS has a nice inflation
> calculator that can take a dollar amount on
Thanks for the kind words!
Stan Brown
Tehachapi, CA, USA
https://BrownMath.com
On 2024-10-07 09:57, R Losey wrote:
> I want to add my thanks; it was a clear explanation, and interesting
> reading.
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I want to add my thanks; it was a clear explanation, and interesting
reading.
On Sun, Oct 6, 2024 at 4:22 PM Bruce Griffis
wrote:
> That is a great explanation! And I really like Jane Bryant Quinn's book.
> It was good reading through that and getting an understanding. I think I
> need to reread
On 2024-10-06 14:22, Bruce Griffis wrote:
>
> I like to think we'll be okay taking out 4% adjusted for inflation, but
> the reality is that if my health fails things will get real expensive
> real quick. If my wife's health fails more than I am able to provide
> care for, the same thing happens. A
On 2024-10-06 12:56 PM, Bruce Griffis wrote:
... checked inflation rate (2.5% on August 2024 - I would need
to check again at the end of the year) ...
For those of us in the USA, the federal BLS has a nice inflation
calculator that can take a dollar amount on date 1 and tell you what the
equi
FIRST --- The total is a separate question from the RMD on 401k/IRA
accounts to which that applies (note: not Roth IRAs as with those
contributions were after tax). In other words, you must take AT LEAST
the amount as of 12/31 the previous year divided by the life expectancy
table the gov't use
That is a great explanation! And I really like Jane Bryant Quinn's book.
It was good reading through that and getting an understanding. I think I
need to reread it again and ask my wife to read it so we are both on the
same page. I've tried Wade Pfau's book a few times, but that is too in
depth
This may not be relevant to GnuCash, but I'm a retiree too, and
strategies for retirement spending are certainly interesting to me. I'm
not a financial professional, nor was I one before retirement, but I've
done a lot of reading over the past 10 years and will be happy to
exchange knowledge, which
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