[quote=plm][quote=Coronita][quote=plm]By cashing out my trading account, I meant doing it slowly not all at once, first 80K in long term capital gains is tax free each year. And even if I need more each year, its only taxed at 15 percent. Now if only the plan for CA free health care passes, my expenses will drop considerably.[/quote]
“I retired at 50, went back to work at 53, then had a major medical issue that left me unemployed – ‘There’s no such thing as a safe amount of money’ for retirement”[/quote]
Not much you can do to prevent major medical issues. But not going back to the office and getting exposed to Covid and retiring so you have time to exercise again actually makes more sense to avoid medical issues.[/quote]
Find a job where you work from home. Still getting paid and building up retirement account, not exposed to COVID, and you should still have time to exercise given that you’re not commuting.
“Not much you can do to prevent major medical issues.”
Which goes back to our point: make as much money as you can before a major medical issue hits because after that your earning potential is probably severely impacted.
If the person in the article above retired at 50 and went back to work at 53, then it sounds like they needed the money and severely miscalculated how long their money would last when retiring at 50. Severely.
Which goes back to my other point – it is folly to think anyone can project out 40 years with any degree of accuracy. Perhaps if you have millions in stocks or rental property you should be OK, but most people don’t have that.
