plymouthcranbrook Posted February 4, 2022 Share Posted February 4, 2022 On 2/3/2022 at 12:09 PM, JACK M said: Crapp !!!! I just remembered that I am 73. You know,,,,, second thing to go. The sad part is no one can remember what the first thing is. 1 Link to comment Share on other sites More sharing options...
Marty Roth Posted February 4, 2022 Share Posted February 4, 2022 (edited) On 1/28/2022 at 4:35 PM, Buick35 said: For those of us turning 72 I found out that there is a required minimum withdrawal or r.m.w. from our 401ks so uncle Sam can get some more of our tax money.Mine is about $1000 a month. I thought of buying another old car but the wife might divorce me.That Sucks! You're concerned enough not to buy another old car because the wife might divorce you? My wife is very supportive of me and "OUR" old car hobby and friends ! Anyone whose spouse is not supportive may want to rethink prior decisions ! Edited February 4, 2022 by Marty Roth (see edit history) 1 Link to comment Share on other sites More sharing options...
8E45E Posted February 4, 2022 Share Posted February 4, 2022 Is there a way to reverse that number and be that age once again? Craig Link to comment Share on other sites More sharing options...
SC38dls Posted February 4, 2022 Share Posted February 4, 2022 Lie! dave s 1 Link to comment Share on other sites More sharing options...
Walt G Posted February 4, 2022 Share Posted February 4, 2022 Those that play together , stay together - old cars are our toys 1 Link to comment Share on other sites More sharing options...
Marty Roth Posted February 4, 2022 Share Posted February 4, 2022 17 minutes ago, Walt G said: Those that play together , stay together - old cars are our toys Yup !! and after almost 53 years married, it still works ! As anyone who has judged or toured with my 75 credit Senior Master Judge / Expert Navigator bride will testify, I’m the lucky one in this partnership. A gal who requests trailering mirrors for Valentines Day, and Air Horns for her Toyota Crown Station Wagon, talk her way out of a speeding ticket in a Citroen SM on an unopened section of Interstate Highway, and Autocross a 4-on-tree Citroen DS-21, both makes me better, and is surely a Keeper! 3 Link to comment Share on other sites More sharing options...
greenie Posted February 4, 2022 Share Posted February 4, 2022 I had the forethought to marry a gal who is nearly 11 years my junior. The government allows me to compute my starting point for the RMD based upon her age. The end result is I can hold off a few extra years. Of course, the government will get their cut eventually. Even if you die and leave your 401k (or 401a) to them, they will pay the taxes. Link to comment Share on other sites More sharing options...
Paul Dobbin Posted February 5, 2022 Share Posted February 5, 2022 (edited) 3 hours ago, greenie said: I had the forethought to marry a gal who is nearly 11 years my junior. The government allows me to compute my starting point for the RMD based upon her age. The end result is I can hold off a few extra years. Of course, the government will get their cut eventually. Even if you die and leave your 401k (or 401a) to them, they will pay the taxes. That depends on where your 401K money is and who gets it. Your spouse gets it at a stepped up basis, no taxes. She can spend it on another old car or old boyfriends, or roll it over to her qualified IRA or 401k... If it's in a variable annuity or fixed annuity, the death benefit is tax free. The variable one is annuity wrapped around a variable mutual fund. (Mine made 24% last year) (11% average return for the 21 years we've been retired) Now 5 years of RMD's and the thing is still growing. For 2022, I'll l have to take a lower amount out for RMD and hopefully live to 110 in good health. Good thing there are so many reproduction parts for old men. Got a eye lens, two knees a wrist and a pacemaker so far. My wife sleeps with our financial advisor, which makes us both happy. Edited February 5, 2022 by Paul Dobbin reposition text (see edit history) 1 Link to comment Share on other sites More sharing options...
Marty Roth Posted February 5, 2022 Share Posted February 5, 2022 (edited) 1 hour ago, Paul Dobbin said: Good thing there are so many reproduction parts for old men. Got a eye lens, two knees a wrist and a pacemaker so far. My wife sleeps with our financial advisor, which makes us both happy. Now into my 80th year, I'm visually re-focused with a new pair of tri-focal lenses in exchange for the cataracts, and within a dozen days will have my new (5th) pacemaker, I "should" be Good-to-Go for a while longer. The RMD thing seems to be working out fairly well for us too, and as Paul notes, appears to be working in our favor (Good thing he's their financial advisor). Edited February 5, 2022 by Marty Roth (see edit history) Link to comment Share on other sites More sharing options...
CHuDWah Posted February 5, 2022 Share Posted February 5, 2022 On 2/4/2022 at 1:53 PM, plymouthcranbrook said: The sad part is no one can remember what the first thing is. No, the sad part is I can remember what the first gone thing is! 🤣 1 Link to comment Share on other sites More sharing options...
60FlatTop Posted February 5, 2022 Share Posted February 5, 2022 Valentine's Day will be our 40th wedding anniversary and I am 73. Not much has changed. Still like low fat cars and tall skinny women. Well, I did change the color of the car. But everything else is the same. 3 Link to comment Share on other sites More sharing options...
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