Personal Finance (Not Investing) • Slott: The Big Retirement Myth

Everyone's situation is different and life does not always go the way one plans. Rules of thumb are only good within the assumptions it is based on.

We socked away everything we could in tax deferred, while working. We are currently doing Roth conversions, maybe it will be enough to keep out of the next up tax bracket for RMD at age 73, maybe not.

Taxes 2014-2027 MFJ Marginal tax brackets, not including NIIT

2014 Fed 39.6%, CA 9.3% = 48.9%
2015 Fed 33%, CA 10.3% = 43.3%
2016 Fed 39.6%, CA 12.3% = 51.9%
2017 Fed 39.6%, CA 11.3% = 50.9%
2018 Fed 32%, CA 9.3% = 41.3% (retired)
2019 Fed 24%, CA 9.3% = 33.3%
2020 Fed 24%, CA 10.23% = 34.3%
2021 Fed 24%, CA 9.3% = 33.3%
2022 Fed 37%, CA 11.3% = 48.3% (sold old house)
2023 Fed 24%, CA 9.3% = 33.3%
2024 Fed 24%, CA 9.3% = 33.3% (estimated)
2025 Fed 24%, CA 9.3% = 33.3% (estimated)
2026 Fed 24%, CA 9.3% = 33.3% (estimated)
2027 Fed 24%, CA 9.3% = 33.3% (estimated); RMD -no more Roth conversions

Plus IRRMA forever.

Statistics: Posted by wwhan — Sat Aug 24, 2024 2:39 pm — Replies 28 — Views 1740

---