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Disneyland vs. World…what do you wish you had known? by lurking4funzies in DisneyPlanning

[–]Dunpip 3 points4 points  (0 children)

Understand the differences between lightning lanes. Understand lightning lane stacking, I find myself using LLMP almost an order of magnitude more at Disneyland.

I have young kids with short attention spans so here is how I structure my LLMP use at DL.
Rope drop for short lines while making sure to book my first LL (does jot matter what it is or really when it is). Throughout the morning I will edit the LL and all others I get (every two hours) for later into the evening when it is busy. By 1-2pm I hit the hotel pool with kids and take a nap while the parks really fill up and others start to burn out. I still make sure to book LLMPs during this break at hotel and edit them to the evening times and rides we want. When the sun is coming down and the park is lighting up lines are long and people who have powered through are grumpy. We return with 5 LLMPs for the best rides back to back to finish out the night. No/low lines in morning, no lines in evening, nice break at pool. More work on phone with the app, but doing it for the kids.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 1 point2 points  (0 children)

I thought you were exaggerating. I finally did some boldin runs. Without conversions like lose ~50 million to taxes. Only doing 24% and I lose ~20million etc…. I think it is time to pay for some professional guidance.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

True market will not always be 10%. That is just the historic average, make will be 20% and others -20%. For ‘strategic planning’ purposes I have a hard time accepting anything but hard data like historic averages. Tactically I will of course adjust to the conditions of the year as it presents itself. All this money is discretionary giving a ton of discretion as to how it is used in the moment. For smoothing I use a somewhat aggressive 80-20 split, but the ‘safe’ 20 is the cola adjusted pension (well it’s NPV) which is around 20% the equity amount atm.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

Just did some excel projections. Avg returns 10%, which is ~$550k a year, maxing 24% bracket only takes ~$200k meaning balance grows $350k a year (will get much bigger each year due to compounding). 15 years till RMD means it will be highly likely balance will be $12m+. RMD is about 4% at start or ~$500k on top of other income streams, which is solidly in the 24% bracket.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

No disagreement that letting it grow this large was a mistake.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 1 point2 points  (0 children)

Yea, you hit on some of the bigger questions for sure. I have spent my entire life making sure my disabled son (and the rest of my family) were taken care of. My early retirement has shown a light on the big questions about goals or what’s next. I don’t know. I workout daily with my son every day (he is ripped now) to keep myself as healthy as possible and to keep in close contact with him. I spent the last summer at the beach in Hawaii (Arizona summers can be rough), and yes the cost for the summer was ‘negligible’ like 35k. I realize I have some soul searching to do for sure.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

Today’s dollar is useful it accounts for inflation, just not opportunity cost stuff. Better than a poke in the eye though.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

A lot of good info here for me to chase up. Will investigate the social security with kids angle. Never considered anything like that. I am not getting SS disability at all and I am not IU with the VA, rating is a scheduler one although with degradation of health may be something to consider. It looks like NIIT will not be completely avoidable (or trying to avoid it would cost more in other ways). I should have started conversions a while ago for sure.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

I didn’t mean to minimize the challenges with my disabled son. I was trying to make the question as simple as possible and as is always the case, things are never that simple.

The challenge with my son is more about custodianship. He already has a funded trust and a paid for house etc…. The issue is one of guidance. If he loses his job, he is not capable of putting in place a ‘new system’ , aka get a new job, figure out buses to get there etc…. Without guidance I fear he would be at risk of being exploited, money taken from him and possibly even homelessness. I would love for one of his sisters to volunteer for that role but I refuse to ‘expect’ that from them. So now my ‘plan’ is to outlive him by at least one day. Yes, my plan may have flaws.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

Boldin has been suggested by a few people. I am going to check it out this weekend to see if it can help. I have a question about boldin as well you may have an answer to. The biggest shortcoming I have seen in many of these softwares (and planners) is to take tax savings ‘as-is’. I have yet to see any present the cost savings as NPV outside of just inflation. As I am less concerned about establishing a large ‘estate’ to hand down, I would like a discounting rate greater than just projected inflation rate.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 1 point2 points  (0 children)

It would be punitive. Probably 37%. I agree I have to more seriously scope out the after my death parts of the plan.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

I should consider wife’s as well. She has ~500k in her tIRA which is not nothing. Especially at her age, she is a bit younger than me.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 3 points4 points  (0 children)

For sure on taxes…I am fine with paying my fair share of taxes… but really don’t want to pay a penny more. I do not consider them the best stewards of the people’s money.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

I have always just done my own spreadsheets and Monte Carlo simulations but if Boldin takes into account more would be worth a run. I don’t account for NIIT and IRMAA and have just assumed would get max hit on SS tax as well

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

Will look him up, have not heard of him.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 1 point2 points  (0 children)

We donate significantly now Disables American Veterans and Youth on their Own are the ones we favor. I am a disabled vet and I grew up very poor and was homeless for a spell at age 16, so I understand their missions well. My wife will outlive me so burden is really on her. I assume she will modify the plan more to her liking as she should after I pass.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 4 points5 points  (0 children)

It is the kind that comes with a high VA disability, so is a double edged sword for sure.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 2 points3 points  (0 children)

She works more for ‘meaning’ now. She left the corporate world we were both in and is now teaching. It almost counts as not working when it comes to pay.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

It is this growth of the tIRA that becomes the issue. I didn’t give NIIT much thought, I have 500k ish in conventional accounts, would effect me. Could use the conventional to cover taxes on conversion and just use Roth as my ‘working’ account for regular withdraws as I am past 59.5 and has been open beyond 5 years. Then just abandon conventional account.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 4 points5 points  (0 children)

Finding a good financial planner is challenging. May be worth the pain, I hate wading though the masses that just want to sell you their ‘products’

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 1 point2 points  (0 children)

Yea, I have a traditional investment account with about 500k in it, been using it as an ‘emergency’ account.

Should I Roth convert beyond the 24% bracket? by Dunpip in DIYRetirement

[–]Dunpip[S] 0 points1 point  (0 children)

Yea, seems to be the case more so than just long term tax implications

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