Search results

So helping my son with his taxes and on his W-2 it shows an amount in the Social Security Tips box (7) which is different (and larger) from the amount in the social security wage box(3). (Both boxes add up to his total Medicare wages as shown in Box 5) What I am wondering is, does social...

I am currently obsessing on what percentage of taxes to have taken out of my husband's SS. He is turning 70 this April so first check will be in May and therefore 9 months of benefits for 2024. Somewhere around $34,000 I think. We have been in the 12 percent tax bracket since retiring in...

After submitting and getting reimbursed for medical expenses from my company HRA (NOT HSA), do I need to keep the receipts? I mean- I submit the photos or screenshots on line to the HRA, so they have them. But I haven't been keeping the on line screen shots of electronic bills because it is...

So my husband will turn 70 in April 2024. (I turn 70 in a few more years) Our Financial Planner encouraged us to wait until age 70 and live off our taxable accounts and we have been doing so since 2020. We started doing small Roth conversions last year so that is the main reason and it is...

My 35 year old son who is single and lives a simple life working 2 jobs ( no homeownership or anything) - he claims single 0 on his w4’s. He owed $300 when he filed taxes in 2021.Then he owed $2000 when he filed in 2022. He uses Tax Act. He just figured he’d pay whatever the penalty was when he...

What happens if you over withhold taxes from a Roth conversion account? After looking at last years tax return, my FA said to withhold 10 % instead of 12 % ( our tax bracket). He said if anything we’d only owe a little bit in April if at all. I asked him wouldn’t it all rectify itself anyway...

So we are paying our Medicare premiums through easy pay out of our checking account each month and will claim SS at age 70. My question is: What happens to our easy pay when we apply for SS? Will SS start taking out Medicare premiums from our SS check or will easy pay just continue on? What...

So we have about $760,000 in Traditional IRA's (mostly bond funds and a money market) ($300,000 in Roths (stock funds) and $250,00 in a 401k (stable value fund)). I am 65 and husband is 67. I was on ACA plan with almost full subsidies this year for 5 months until Medicare in June. So FA...

Our FP is having us live off cash for the next few years until age 70 and then both collect SS. He wants us to do some Roth conversions in the meantime to lower the Traditional IRA balances before RMDs hit at age 72. But I hate the idea of having to use even more bank account cash or $ from...

My son is having a hard time understanding how to file. I know every state is different. He went on line on Friday evening and filed since everyone, including me, told him to file right away. He said there were a lot of confusing questions but he got through it, indicated that Friday the...

Starting March 1st, I am enrolled in an ACA plan, BUT they need income documentation. My husband is on Medicare and I am no longer working, but not yet Medicare eligible. Husband retired 12/31/19. No SS or pensions and living off savings for 2020. Just moved to NH from NY. I somehow found...

Hubby has had a private long term disability policy for a long time. It renews again in a week (march7) and his 65th birthday is in April. He is still working full time- until next year when he is 66. Because he doesn't turn 65 until a month after the renewal of the policy, the premium stays...

Anyone read this book and if so what do you think of it? Some "financial planners' give it to prospective clients.

So I have been looking into getting a CFP to assist with our retirement transition. I have always managed our money through an account with T Rowe Price. I do the best I can, though I am no expert for sure. I play around with fire calc and the Financial Engines tool through my husband's employer...

Here is our situation. I was forced out of my job at age 62. Not collecting SS. Hubby is working full time and will continue to do so until age 67 (hopefully to provide health insurance for me until I turn 65). He is going to be 65 in April. he will not be taking SS yet either. I have no...

I am 62 and not working, Husband is 64 and will turn 65 in April and will work to at least 66, or that is the plan anyway. He contributes the max to his HSA since his employer's plan is a high deductible one. I am also covered under that plan. His employer also puts some money into that...

So- as I have resigned from my job-not planned- was forced out- I am looking to cut expenses. Not sure if I will ever work again. I certainly don't want to, but who knows if I will have to at some point? Not planning on it, though. If anything- maybe part-time- but I even doubt that. My husband...

Been investing in IRAs for years. Now turning 60 soon. Husband turning 62. Have a lot of investments in IRA mutual funds. With the economy and market the way it is, should we switch our monthly contributions to a Roth cash savings account or continue investing in the market in our Roth each...

59 and burnt to a crisp! I am female and wanted to retire at 16 when I first started working full time! Everyday at work I feel like I want to scream and jump out of my own skin! I just don't think I can make it until age 65. (SS isn't until age 66+, but I figure at least I would have Medicare...