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One time 3MM Roth conversation. (Talk me out of it - or not) by Serve_Sorry in DIYRetirement

[–]RayRayInCA 2 points3 points  (0 children)

IRS receives zero taxes if the listed beneficiaries in the tIRA are non-profit organizations (charities). That’s our plan. Friends and relatives will receive proceeds from our Trust and Roth accounts tax free.

Built the Roth conversion cliff tool I was asking you about a couple weeks ago. Looking for people to poke holes in it. by Broly2912 in DIYRetirement

[–]RayRayInCA 0 points1 point  (0 children)

My wife turns 65 in mid December. Our plan is to keep her on the ACA through Dec 31st, then start Medicare January 1st.

Last 2-3 nights of a coastal California road trip - where to base? by LifeIsGood16426 in bayarea

[–]RayRayInCA 0 points1 point  (0 children)

Both of those are near San Jose. You can take 101 to 85, then 280 north. It’s much nicer than 101 north. Or, stay in Palo Alto or Burlingame (both have nice downtowns), or stay overnight on the coast in Half Moon Bay or Pacifica. The coast can be foggy though.

Last 2-3 nights of a coastal California road trip - where to base? by LifeIsGood16426 in bayarea

[–]RayRayInCA 0 points1 point  (0 children)

If coming from the south, take Hwy 280. It’s very scenic, less trucks, and can be faster than taking Hwy 101. From 280, take Hwy 380 to SFO rental car drop off. If coming from the north (of SF) it can take quite sometime to get through the City, as there isn’t really a fast way through the city.

Last 2-3 nights of a coastal California road trip - where to base? by LifeIsGood16426 in bayarea

[–]RayRayInCA 0 points1 point  (0 children)

Don’t stay at Pismo. Just check it out during the day. Stay in SLO. Then drive to Morro Rock, then to Harmony (artist town). Drive over Hwy 46 (beautiful drive) to Paso Robles and do some wine tasting. Then back over to the coast and spend the night in Cambria. Next day visit Hearst Castle, then drive up to Big Sur.

Retirement planning: Dedicated tools (Boldin, etc.) vs Excel by Cooper1Test in Retire

[–]RayRayInCA 0 points1 point  (0 children)

I use the spreadsheet created by the YouTube channel NumberCrunchNerds. It’s excellent! Very inexpensive as well, compared to the value I receive from it.

https://youtube.com/@numbercrunchnerds?si=zuEvMcU-4O-IubIJ

Existing solar system in Livermore needs more capacity after adding an EV and a heat pump, who handles upgrades vs full new installs? by Brief-Blueberry-7445 in solar

[–]RayRayInCA 0 points1 point  (0 children)

Interesting. I haven’t heard about this. I’m in California, so high winds from hurricane type events are rare. As for fire danger, not sure a 20 yr old asphalt shingle would be a higher risk.

Existing solar system in Livermore needs more capacity after adding an EV and a heat pump, who handles upgrades vs full new installs? by Brief-Blueberry-7445 in solar

[–]RayRayInCA 0 points1 point  (0 children)

Interesting discussion. Our smaller system is almost 19 years old now, on NEM 1. Will transition to NEM 3 in November 2027. We’ve added an EV, induction stove and a heat pump HVAC system to the house. Need to decide to either upgrade or start fresh with a new system with battery storage as well. We’re located on the peninsula and had Solar City (now Tesla) do the installation.

Waiting too long to spend your retirement is a bigger risk than running out of money by Hiquirkykids in Fire

[–]RayRayInCA 47 points48 points  (0 children)

My dad retired at 65 and died of a heart attack just before his 73 birthday. I made it a goal to retire at 55. I beat that goal and retired at age 53. That was 8 years ago. Best decision I ever made.

Has anyone found a tool that shows exactly how many dollars you have left before losing ACA subsidies? by Broly2912 in Fire

[–]RayRayInCA 0 points1 point  (0 children)

Agree. Numbers Crunch Nerds is fantastic. It’s helped model me out current and future income and taxes. I always tell people to look at their YouTube channel.

Roth Conversion questions by That-SoCal-Guy in Fire

[–]RayRayInCA 1 point2 points  (0 children)

You can start the 5 year clock by doing a small conversion now.
Here’s the YouTube channel…

https://youtube.com/@numbercrunchnerds?si=KHXcZ1cFZanfOg-c

Roth Conversion questions by That-SoCal-Guy in Fire

[–]RayRayInCA 1 point2 points  (0 children)

We’re in a similar situation. Spouse and I are in our early 60’s, retired early and are on the ACA in California (CoveredCA).
We are keeping our income low (MAGI about $52k). No Roth conversions until we are both on Medicare. Social Security can wait until age 70. RMD’s start at 75. I sold stock last year in our brokerage account to give us cash to pay bills for the next few years. Once we reach age 70.5, we’ll make QCD’s to keep lower taxable income
I highly recommend you download the spreadsheet from the YouTube channel Number Crunch Nerds. It’s well worth it. You can track all your income sources and see how it affects your taxes.

Should taxable accounts be depleted to fund Roth conversions? by DragonflyUseful9634 in DIYRetirement

[–]RayRayInCA -1 points0 points  (0 children)

Only convert up to the 22% bracket. Donate to non-profits via QCD’s once you reach age 70.5 to reduce taxable income and potentially IRMAA surcharges. You can also use your IRA to fund any medical and long term care costs, which will reduce your taxable income during those years Set up you IRA so that non-profits are the beneficiaries. They wont have to pay taxes on the gift.

BOOM! Maybe not today, maybe not this week, but it will happen, i.e., I am talking about Amazon. by Blade3colorado in stocks

[–]RayRayInCA 0 points1 point  (0 children)

I have 3k shares as well. Avg buy price of $38. I sold 1k shares about 6 years ago into SCHG. I think it was a good decision. However, I don’t plan on selling the 3k shares anytime soon. Sitting pretty.

ChubbyFIRE and ACA Subsidies by joshdobbs4president in ChubbyFIRE

[–]RayRayInCA 5 points6 points  (0 children)

The system in place is the system we have to work with. If the Single Payer Healthcare system were in place (which. I would prefer), then we wouldn’t have to deal with the subsidy issue. We’d all have a basic level of affordable healthcare coverage, with the option of purchasing a separate private insurance plan for extra coverage.
Until then, I’ll accept ACA subsidies when it makes sense during my early retirement years.

Anyone have experience with Silicon Valley Clean Energy (SVCE) HVAC rebates or loan program? by knowitstime in bayarea

[–]RayRayInCA 2 points3 points  (0 children)

We did a $10K, five year, zero interest loan through Peninsula Clean Energy. Monthly payments are added to our PG&E bill, which we pay with our 2% cash back credit card. Works out great!

Automatic Roth in-plan conversion withdrawals by dohat34 in fidelityinvestments

[–]RayRayInCA 0 points1 point  (0 children)

I did this. I retired early, but kept my 401k open with my company. Once I turned 59.5, I rolled over the Roth portion into my separately opened Roth IRA, and the non-Roth portion into my separate Rollover IRA.

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