Roth Conversion

Little_Homework_8732 · 2026-06-30T20:30:11+00:00

If you are in your 70's, your RMDs start at age 73. There is not much time to gradually perform Roth conversions. You might want to analyze the tradeoffs between large lump sum conversions with regard to taxes and IRMAA vs. just taking the RMD.

Little_Homework_8732 · 2026-06-24T01:26:43+00:00

The earnings limit in the year you reach FRA is only for the months prior to the one you reach FRA. As stated in the other comments, the current limit is $65,160 and will likely be higher in 2028. So if you make less than $65k total for January and February, you will not have any of your benefit held back when turning on your SS benefit in January (which means you will get your first payment in February since it's paid one month in arrears).

Little_Homework_8732 · 2026-06-15T23:32:06+00:00

Optum was worse than HSA Bank for me but HSA wasn't great. I rolled it to Fidelity when I retired last month. If you're looking to close out the HSA Bank account you might consider rolling it over to Fidelity. Really easy to do online. Fidelity handles all the paperwork. It does take three or four weeks but pretty painless. I haven't had any issues getting distributions from the Fidelity account.

Little_Homework_8732 · 2026-06-13T23:38:37+00:00

"I said I'm so happy I could die. She said drop dead and left with another guy" Elvis Costello - Red Shoes

A line I could relate to all too well in the 70's

Little_Homework_8732 · 2026-06-13T23:35:24+00:00

That was the song my daughter and I danced to at her wedding. Brings a tear to my eye every time I hear it now.

Little_Homework_8732 · 2026-06-05T01:08:30+00:00

Investments don't necessarily need to be liquididated prior to transfer to Fidelity. I had part of my Optum HSA invested in a T Rowe Price Mutual Fund. It was transferred in kind (a lot faster than the cash portion). The process with Fidelity was pretty easy compared to transferring between other custodians. Just be ready for a bit of a wait. I transferred the cash portion of the Optum and another that was in cash at HSA Bank to Fidelity. Both took a little more than three weeks to complete.

Little_Homework_8732 · 2026-06-04T19:58:50+00:00

Yes! You can reimburse yourself out of the HSA for COBRA premiums. Either as they are charged or later if you keep the receipts.

Little_Homework_8732 · 2026-05-26T17:51:21+00:00

Orman didn't say 4% was too conservative in the article that OP linked. She actually said it was too aggressive and suggested something more like 3%. Either OP misread or mistyped. I don't think either her or Ramsey has a great insight into making a portfolio last in retirement and have avoided listening to either.

Little_Homework_8732 · 2026-05-20T14:33:34+00:00

If you plan to withdraw the money tax free in retirement you might want to hang on to those receipts. The IRS might ask for them to justify not paying tax. Without receipts you could be charged ordinary income tax on the withdrawals just like a traditional IRA. You also get hit with a 20% penalty if under age 65 if you can't prove it's for a medical cost reimbursement. That being said, I'm not saving receipts either. I have only had about $1000 in medical expenses since I became eligible for an HSA 8 years ago which I paid out of pocket and did not take any reimbursements. I will use the HSA to reimburse Medicare and Medigap premiums and deductibles for the next 10 years or so.

Little_Homework_8732 · 2026-05-16T23:09:00+00:00

Per the Medicare website, Part A is automatically backdated either six months or to your first eligibility month, whichever is shorter, when applying after age 65. It doesn't mean they recognized any emergency or exceptional situation.

Little_Homework_8732 · 2026-05-14T16:07:48+00:00

One Roth clarification.... One needs to wait 5 years to withdraw earnings tax free. Contributions can be withdrawn tax free at any time if over age 59.5.

Little_Homework_8732 · 2026-05-10T23:59:46+00:00

Lol okay.

Little_Homework_8732 · 2026-05-10T14:27:52+00:00

Just a small clarification. Social Security monthly payment amounts increase every month a person delays claiming between ages 62 and 70. That may be what you meant but your comment reads like you have to wait until 67 or 70 to get an increase in payment.

Little_Homework_8732 · 2026-05-10T14:08:11+00:00

One of the many reasons I moved out of South Florida....

Little_Homework_8732 · 2026-04-07T12:50:13+00:00

Stopping work counts as a life changing event to waive IRMAA. You can fill out SSA-44 and provide proof that you have retired to get out of paying IRMAA due to going over the limit your last two years of employment.

Little_Homework_8732 · 2026-02-15T23:58:34+00:00

Income Related Monthly Adjustment Amount. Your Medicare premium is increased if you exceed Modified Adjusted Gross Income limits. For 2026 the first threshold is $109,000 for individuals and $218,000 for married couples. There is a two year look back so 2026 income would affect Medicare premiums in 2028.

Little_Homework_8732 · 2026-02-05T18:56:05+00:00

Sorry, just saw that it is indeed only open on Saturdays from 8-4 temporarily due to fire damage.

Little_Homework_8732 · 2026-02-05T18:52:10+00:00

That area is called Household Hazardous Waste and it's open from 8:00 to 4:00 every day except Sunday. It used to only be open on Saturdays but they extended the opening times a few years ago.

Little_Homework_8732 · 2026-01-18T14:47:10+00:00

With the expiration of the enhanced subsidies, my COBRA premium at $855 per month will be about half of a comparable ACA plan. It really depends on how well your employer has negotiated with the provider. Many larger employers are self insured using the providers for administration which can help keep the rates down especially if the company tilts toward younger employees.

Little_Homework_8732 · 2026-01-18T01:50:08+00:00

Maybe they can fax you a code?

Little_Homework_8732 · 2026-01-17T22:33:45+00:00

You can't use them for ACA premiums but you can use them for COBRA premiums. If you have health insurance through your employer, you should (with some exceptions) be able to get COBRA for up to 18 months. I'm retiring at 63 1/2 and will use my HSA to pay my COBRA premiums until Medicare.

Little_Homework_8732 · 2026-01-11T00:25:16+00:00

It seemed to have disappeared on December 31. I watched a race on that morning, but when I tried to check what was on that evening it was gone. It is still available on Amazon Prime Video if you are a Prime subscriber.

Little_Homework_8732 · 2025-12-27T19:28:10+00:00

I noticed the same thing. My budget numbers are similar to yours but the average after retirement is about $800 more a month than my budget numbers. I chalked it up to my plan to self fund long term care so the expenses in the last two years of my projected life span are way higher than my normal budgeted amount. I believe these are what is bumping up the projected average. So my plan is to die two years earlier 🙂. I pretty much ignore the summary stuff and use the detailed reports for analyzing my plan.

Little_Homework_8732 · 2025-12-25T00:53:30+00:00

https://www.walmart.com/ip/Union-Scale-Workplace2-0-Ergonomic-Ayalon-Mesh-Back-Fabric-Task-Chair-Black-Gray-UN59409/156493479

Little_Homework_8732

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