60+ year old thread.

Mine too. Thanks to whoever made it happen.

 

Good morning fellow Porchatonians!!!

 

Morning

 

60 degrees at 0600. That’s got to be a sign to go finish my weekend yardwork at first light.

 

I got your 6

 

Good morning. Going to my niece's daughter's birthday party. The young lady is 2. Going to be a good day. The pork shoulder came out great even after a 14-hour rest in the cooler. Whn I am pulling I use pepper, salt, and vinegar to add flavor. I could add red pepper, but the wife and son would not approve. I go light on the pepper and salt.

 

Good Morning everyone


Going to be a nice Spring day here in Middle Tennessee , currently 57 clear High 84

 

MMMMMMM,!!! Does that ever look DELICIOUS!
Another beautiful day here. Sadly we are in a fire watch with dry conditions and high winds. But I can see Long’s Peak and it has lots of snow. A good thing!
May get some kale in the ground today and watering the beets, spinach, arugula, etc. Can’t turn on the water yet, so have to haul buckets. Oh well it’s good exercise!
Make this a great day everyone!

 

Good morning all. Currently 42 degrees supposed to hit 75 this afternoon. Guess you know what I'm doing. ....

 

It's hard to believe where it is. I thought it was overheated when it hit 14K...

 

Morning boys.

 

Good Morning Susan

 

sixtys/wannabes/savers. According to the IRS:

https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs

Clear -- as mud! All I know is that I'm in the group that starts RMD's at age 73.

I had a 401(K) when I was working, but that is an employer-based plan; I had to convert it to an IRA when I retired. That's easy enough to do but it makes for one heck of a tax return for the year you do it! The whole amount counts as "income".

Weather promises to be a proper spring day, so I guess I'd better get off my duff and get to work in the yard. We have a pile of topsoil that needs to be strategically relocated. My back hurts already...

 

I'm confused by this. I converted a 401(k) in Oct. and as long as you don't 'use' any of the converted money, it's just a re-investment, at least that is what I was told, and I received no gov't tax forms telling me otherwise.

 

I broke in a new set of tires yesterday. May get some more scrub time today.

 

Morning all:

I rolled over a traditional IRA into a ROTH IRA awhile back, luckily I could spread it over 2 years when I did it, but I got hammered on the taxes because of the way they treat the "income" part of it. I'm not sorry that I did it though, any capital gains or income is now no longer taxable and no RMD are required, YET!!!!

 

Sorry! I didn't mean to confuse or complicate things. The 401(K) amount counted towards my total gross income, but then it came back out because it was reinvested in another retirement (the IRA). So in terms of taxes paid, it's a wash. Zero. Nada. But my gross income number was a little bit insane looking...

 

All this talk about retirement accounts, is anyone familiar with TSP? I just started reading about it but not really sure what I want to do with it yet.

 

TSP?

I just love acronyms...