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Personal Finance and Investing

question everything

(50,008 posts)

6. I will not be drawing a salary.

Reply to Common Sense Party (Reply #5)

Mon Jan 21, 2013, 11:57 AM

Jan 2013

Only Social Security and withdrawing from IRAs which will have to be conservative so that we don't outlive it.

We were fortunate to earn a comfortable salary and our Social Security and savings withdrawal will be a lot less. This has always been my assumption but now, that this is going to happen within the next two years - we are old baby boomers - I do know.

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Just found out that the maximum amount allowed for IRA contribution is up [View all] question everything Jan 2013 OP

Good. elleng Jan 2013 #1

That's nice. SheilaT Jan 2013 #2

Yes does include Roth IRA question everything Jan 2013 #3

I have only a Roth, SheilaT Jan 2013 #4

How do you know you will be in a lower tax rate in retirement? Common Sense Party Jan 2013 #5

I will not be drawing a salary. question everything Jan 2013 #6

If only two years, you're right, your rate may not rise much anytime soon. Common Sense Party Jan 2013 #7