How 'SECURE 2.0' Could Boost Your Retirement Plans

I saw a similar, but right leaning, article about this. They were painting the increase in the RMD age as a bad thing as it may have a higher RMD amount, pushing the retiree into a higher tax bracket. Considering how many people will likely be working past 75 since they won’t be able to retire, it may be a moot point. The retirement savings rate for the Average American is nothing to write home about.

RMDs are bullshit. What a clever way to punish people for saving diligently over the years.

Taxes are going up in the future, like interest rates did. Roth is the way to go.

Our whole tax system is designed to punish hard work and personal responsibility while rewarding laziness and underachievers.

I’ll take my chances. When the Roth was introduced, I was in the highest tax bracket that I had ever been in. Being retired, I am in the lowest tax bracket that I have ever been. Had I converted to a Roth, I would be out MORE money that I will pay in taxes. It’s kind of funny how well you can live on half the income in retirement.

Other than FICA, commuting to work and maybe clothing what expenses go down in retirement?

I’m not buying breakfast/lunch every day, I’m spending a fraction on gas. I retired at 61 and had to pay full insurance for a year, I ran spreadsheets with projections on it…and it showed I could do it. I checked and rechecked and it all came out the same, even with $800 in health insurance every month. Your results may vary…