Home › Forums › Financial Markets/Economics › How to make the most from your payroll tax holiday
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sdrealtor.
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January 3, 2011 at 9:29 AM #647377January 3, 2011 at 11:02 AM #648093
Coronita
Participant[quote=sdrealtor]flu
You would be surprised. By the time you get there you probably wont even have to touch the 401K money. I manage my mother’s fund’s and we take the minimum distributions from her IRA but that is all. Ultimately, your 401K money will probably end up funding your children’s retirement accounts and theirs after that. That is how it goes for most folks that plan well and have good incomes and , conservative financial outlooks over the long run. Each generation has a bigger nest egg they dont need to touch which gives them the security and stability they need to suceed beyond the one that preceded them.[/quote]My relatives have a big problem right now. They are taking their RMD now hit with pretty hefty taxes, namely because they don’t have much deductions..More so than during their earning years.
January 3, 2011 at 11:02 AM #647509Coronita
Participant[quote=sdrealtor]flu
You would be surprised. By the time you get there you probably wont even have to touch the 401K money. I manage my mother’s fund’s and we take the minimum distributions from her IRA but that is all. Ultimately, your 401K money will probably end up funding your children’s retirement accounts and theirs after that. That is how it goes for most folks that plan well and have good incomes and , conservative financial outlooks over the long run. Each generation has a bigger nest egg they dont need to touch which gives them the security and stability they need to suceed beyond the one that preceded them.[/quote]My relatives have a big problem right now. They are taking their RMD now hit with pretty hefty taxes, namely because they don’t have much deductions..More so than during their earning years.
January 3, 2011 at 11:02 AM #648231Coronita
Participant[quote=sdrealtor]flu
You would be surprised. By the time you get there you probably wont even have to touch the 401K money. I manage my mother’s fund’s and we take the minimum distributions from her IRA but that is all. Ultimately, your 401K money will probably end up funding your children’s retirement accounts and theirs after that. That is how it goes for most folks that plan well and have good incomes and , conservative financial outlooks over the long run. Each generation has a bigger nest egg they dont need to touch which gives them the security and stability they need to suceed beyond the one that preceded them.[/quote]My relatives have a big problem right now. They are taking their RMD now hit with pretty hefty taxes, namely because they don’t have much deductions..More so than during their earning years.
January 3, 2011 at 11:02 AM #647437Coronita
Participant[quote=sdrealtor]flu
You would be surprised. By the time you get there you probably wont even have to touch the 401K money. I manage my mother’s fund’s and we take the minimum distributions from her IRA but that is all. Ultimately, your 401K money will probably end up funding your children’s retirement accounts and theirs after that. That is how it goes for most folks that plan well and have good incomes and , conservative financial outlooks over the long run. Each generation has a bigger nest egg they dont need to touch which gives them the security and stability they need to suceed beyond the one that preceded them.[/quote]My relatives have a big problem right now. They are taking their RMD now hit with pretty hefty taxes, namely because they don’t have much deductions..More so than during their earning years.
January 3, 2011 at 11:02 AM #648555Coronita
Participant[quote=sdrealtor]flu
You would be surprised. By the time you get there you probably wont even have to touch the 401K money. I manage my mother’s fund’s and we take the minimum distributions from her IRA but that is all. Ultimately, your 401K money will probably end up funding your children’s retirement accounts and theirs after that. That is how it goes for most folks that plan well and have good incomes and , conservative financial outlooks over the long run. Each generation has a bigger nest egg they dont need to touch which gives them the security and stability they need to suceed beyond the one that preceded them.[/quote]My relatives have a big problem right now. They are taking their RMD now hit with pretty hefty taxes, namely because they don’t have much deductions..More so than during their earning years.
January 3, 2011 at 11:16 AM #647528sdrealtor
ParticipantJust need to plan around all that. Most of my mothers income is from municipals so the RMD are most of her taxable income.
January 3, 2011 at 11:16 AM #648113sdrealtor
ParticipantJust need to plan around all that. Most of my mothers income is from municipals so the RMD are most of her taxable income.
January 3, 2011 at 11:16 AM #647457sdrealtor
ParticipantJust need to plan around all that. Most of my mothers income is from municipals so the RMD are most of her taxable income.
January 3, 2011 at 11:16 AM #648251sdrealtor
ParticipantJust need to plan around all that. Most of my mothers income is from municipals so the RMD are most of her taxable income.
January 3, 2011 at 11:16 AM #648575sdrealtor
ParticipantJust need to plan around all that. Most of my mothers income is from municipals so the RMD are most of her taxable income.
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