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bob2007
ParticipantPatentGuy
I’ve heard a few people say the same thing and its an interesting idea. Have you looked into that enough to compare all the taxes, like property tax, and does it still come out to be a significant (3% or more) advantage?
From another perspective, why not relocate now? That way a person would have time to make friends and know the area, rather than hitting it at retirement, plus you wouldn’t be paying the state tax now. Only asking because I’ve considered this myself.
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Submitted by PatentGuy on April 24, 2010 – 5:49pm.There is also the state tax, which is no small deal in California. We plan to move to a zero or low income tax state prior to taking any distributions from our tax deferred IRA/401K/CB Pension/403(b)/457 plans.
ParticipantIt seems that you feel a large proportion of people will be in the same or higher tax bracket when they retire. even though you did have one line in there that said a planner should ask that question. I don’t think thats the case for those who have higher level executive positions in their 40’s and 50’s. Their taxable ordinary income will go down if they handle it wisely; more will be capital gains, which hopefully won’t go up has high.
So obviously it depends on the individual. If I am an average employee my whole life with ordinary taxable income, it sounds like the roth would be good since I may make that level of income through the years and taxes are likely to go up. If I’m doing significantly better right now, getting a lot of ordinary taxable income but also lots of stock, maybe traditional. I’m not a an expert on IRAs by any means, but that’s the way it seems to me.
ParticipantIt seems that you feel a large proportion of people will be in the same or higher tax bracket when they retire. even though you did have one line in there that said a planner should ask that question. I don’t think thats the case for those who have higher level executive positions in their 40’s and 50’s. Their taxable ordinary income will go down if they handle it wisely; more will be capital gains, which hopefully won’t go up has high.
So obviously it depends on the individual. If I am an average employee my whole life with ordinary taxable income, it sounds like the roth would be good since I may make that level of income through the years and taxes are likely to go up. If I’m doing significantly better right now, getting a lot of ordinary taxable income but also lots of stock, maybe traditional. I’m not a an expert on IRAs by any means, but that’s the way it seems to me.
ParticipantIt seems that you feel a large proportion of people will be in the same or higher tax bracket when they retire. even though you did have one line in there that said a planner should ask that question. I don’t think thats the case for those who have higher level executive positions in their 40’s and 50’s. Their taxable ordinary income will go down if they handle it wisely; more will be capital gains, which hopefully won’t go up has high.
So obviously it depends on the individual. If I am an average employee my whole life with ordinary taxable income, it sounds like the roth would be good since I may make that level of income through the years and taxes are likely to go up. If I’m doing significantly better right now, getting a lot of ordinary taxable income but also lots of stock, maybe traditional. I’m not a an expert on IRAs by any means, but that’s the way it seems to me.
ParticipantIt seems that you feel a large proportion of people will be in the same or higher tax bracket when they retire. even though you did have one line in there that said a planner should ask that question. I don’t think thats the case for those who have higher level executive positions in their 40’s and 50’s. Their taxable ordinary income will go down if they handle it wisely; more will be capital gains, which hopefully won’t go up has high.
So obviously it depends on the individual. If I am an average employee my whole life with ordinary taxable income, it sounds like the roth would be good since I may make that level of income through the years and taxes are likely to go up. If I’m doing significantly better right now, getting a lot of ordinary taxable income but also lots of stock, maybe traditional. I’m not a an expert on IRAs by any means, but that’s the way it seems to me.
ParticipantIt seems that you feel a large proportion of people will be in the same or higher tax bracket when they retire. even though you did have one line in there that said a planner should ask that question. I don’t think thats the case for those who have higher level executive positions in their 40’s and 50’s. Their taxable ordinary income will go down if they handle it wisely; more will be capital gains, which hopefully won’t go up has high.
So obviously it depends on the individual. If I am an average employee my whole life with ordinary taxable income, it sounds like the roth would be good since I may make that level of income through the years and taxes are likely to go up. If I’m doing significantly better right now, getting a lot of ordinary taxable income but also lots of stock, maybe traditional. I’m not a an expert on IRAs by any means, but that’s the way it seems to me.
ParticipantCA Renter,
There is a certain “carrying capacity” here. Our resources are finite (water, infrastructure, land, clean air/ability to handle pollution, etc.). My DH is a third-generation Californian, and my parents moved here in the 1940s (dad) and early 1950s (mom). There was, in fact, much more room here, and it was totally possible for a middle-class family to live a decent life in a clean, safe neighborhood with a single earner (even one without a college degree!). We had lots of open space, even during my childhood, and we could get around fairly easily without too much traffic.
I understand your feelings, but my comment about the birth date was was really to go back before you and your family arrived. The real “natives” were run off a long time ago, much earlier than 1940. So they could say your ancestors (if they were here) destroyed their quality of life, couldn’t they?
ParticipantCA Renter,
There is a certain “carrying capacity” here. Our resources are finite (water, infrastructure, land, clean air/ability to handle pollution, etc.). My DH is a third-generation Californian, and my parents moved here in the 1940s (dad) and early 1950s (mom). There was, in fact, much more room here, and it was totally possible for a middle-class family to live a decent life in a clean, safe neighborhood with a single earner (even one without a college degree!). We had lots of open space, even during my childhood, and we could get around fairly easily without too much traffic.
I understand your feelings, but my comment about the birth date was was really to go back before you and your family arrived. The real “natives” were run off a long time ago, much earlier than 1940. So they could say your ancestors (if they were here) destroyed their quality of life, couldn’t they?
ParticipantCA Renter,
There is a certain “carrying capacity” here. Our resources are finite (water, infrastructure, land, clean air/ability to handle pollution, etc.). My DH is a third-generation Californian, and my parents moved here in the 1940s (dad) and early 1950s (mom). There was, in fact, much more room here, and it was totally possible for a middle-class family to live a decent life in a clean, safe neighborhood with a single earner (even one without a college degree!). We had lots of open space, even during my childhood, and we could get around fairly easily without too much traffic.
I understand your feelings, but my comment about the birth date was was really to go back before you and your family arrived. The real “natives” were run off a long time ago, much earlier than 1940. So they could say your ancestors (if they were here) destroyed their quality of life, couldn’t they?
ParticipantCA Renter,
There is a certain “carrying capacity” here. Our resources are finite (water, infrastructure, land, clean air/ability to handle pollution, etc.). My DH is a third-generation Californian, and my parents moved here in the 1940s (dad) and early 1950s (mom). There was, in fact, much more room here, and it was totally possible for a middle-class family to live a decent life in a clean, safe neighborhood with a single earner (even one without a college degree!). We had lots of open space, even during my childhood, and we could get around fairly easily without too much traffic.
I understand your feelings, but my comment about the birth date was was really to go back before you and your family arrived. The real “natives” were run off a long time ago, much earlier than 1940. So they could say your ancestors (if they were here) destroyed their quality of life, couldn’t they?
ParticipantCA Renter,
There is a certain “carrying capacity” here. Our resources are finite (water, infrastructure, land, clean air/ability to handle pollution, etc.). My DH is a third-generation Californian, and my parents moved here in the 1940s (dad) and early 1950s (mom). There was, in fact, much more room here, and it was totally possible for a middle-class family to live a decent life in a clean, safe neighborhood with a single earner (even one without a college degree!). We had lots of open space, even during my childhood, and we could get around fairly easily without too much traffic.
I understand your feelings, but my comment about the birth date was was really to go back before you and your family arrived. The real “natives” were run off a long time ago, much earlier than 1940. So they could say your ancestors (if they were here) destroyed their quality of life, couldn’t they?
ParticipantAh yes, the “drawbridge”. After you move here/are born, everyone else degrades your life. If your going to make that argument you better go back a lot further than your own birth date.
Besides, I think you missed the point. If you are unhappy with where you are, regardless of how you got there, it affects everyday decisions both big and small. This will affect how you make friends, get along with coworkers, and likely job performance as well. With that attitude things will only get worse and perceived as things “happening to you”. My point/opinion is that its better to do something about it, rather than languish in the despair and decline in your quality of life.
ParticipantAh yes, the “drawbridge”. After you move here/are born, everyone else degrades your life. If your going to make that argument you better go back a lot further than your own birth date.
Besides, I think you missed the point. If you are unhappy with where you are, regardless of how you got there, it affects everyday decisions both big and small. This will affect how you make friends, get along with coworkers, and likely job performance as well. With that attitude things will only get worse and perceived as things “happening to you”. My point/opinion is that its better to do something about it, rather than languish in the despair and decline in your quality of life.
ParticipantAh yes, the “drawbridge”. After you move here/are born, everyone else degrades your life. If your going to make that argument you better go back a lot further than your own birth date.
Besides, I think you missed the point. If you are unhappy with where you are, regardless of how you got there, it affects everyday decisions both big and small. This will affect how you make friends, get along with coworkers, and likely job performance as well. With that attitude things will only get worse and perceived as things “happening to you”. My point/opinion is that its better to do something about it, rather than languish in the despair and decline in your quality of life.
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