My Honest Advice TO Anyone Under 59... Stop Waiting!
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- Опубліковано 7 січ 2025
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I was chomping at the bit waiting for 59.5. IT allowed me to do an in service rollover to an IRA which our 401K custodian did not allow until that age. I was able to actually invest the way I wanted. I am retired now at 60 ;-) and I have been making more in dividends than I was making in salary at my job.
Many retire at age 18 . Just need a parent with a basement.
My CFP stopped my hesitation in its tracks by telling me I have every asset except TIME. Retired at 60 and love the freedom.
I retired at 61. Best decision I ever made.
This is great advice for someone like me who maxes out retirement accounts and the HSA. I never would’ve considered private insurance outside of company coverage and using the HSA to pay for it! Instead of the 19yrs to go, I can now say I only have 10 more years, assuming there are no major life changes, LUV IT, THANK YOU!
I retired at 49. Now I’m 56 and would not change a thing.
Preparation is critical. I was laid off at 59.5. Happy Retirement to Me. Unless my consulting business is more successful then anticipated, I will do Roth conversions in 2025 while I am in a low tax bracket.
I’m 61 and I plan on working until I’m 70. I know too many broke old people, and I don’t want to be one of them.
I retired at 63 and get $1900/month in ACA premium credits.
If Cindy has a federal TSP account, she could have transfered some or all of her savings to an outside IRA before age 59.5. Also, i'm pretty sure TSP has a ROTH option. It just doesn't have as many investment options unless your willing to pay higher fees for that.
I'm 59 1/2. I haven't changed a thing. We are still investing $54k / year in a combination of pre-tax and after-tax buckets and still keeping our risk profile, though last year, I moved more into bonds with my belief that interest rates are likely to settle down. It's tough to know exactly when to retire, but I just know that I'm not there yet.
For you early retirees, howare you going to pay for retiree medical before 65. Cobra is 1700/ month for me and my wife and only good for 18 months. The ACA under a Gold Plan is about 1,200/month for a high deductible plan, which is far less generous than my Employer Plan. You need a lot of Cash to retire early.
I’m 64 - turn 65 in October where I would like to retire. Not sure where Roth plays in my equation but I would be drawing from my 401k. $20k in an HSA - Cobra Medical Care if I leave early.
Retire asap. You can’t buy time.
Thank you.
64 here, paid off house, but wife won't let me retire, she needs my good company health insurance.