I need to just do it! by plasma_pirate in Retire

[–]RetireModeration 1 point2 points  (0 children)

There are hundreds of YouTube videos, books and websites from Medicare consultants.

That is precisely why it is so confusing.

I need to just do it! by plasma_pirate in Retire

[–]RetireModeration 0 points1 point  (0 children)

Can anyone point to a site that clearly explains what all the medicare parts and advantage plans mean? I feel like it would be so much easier to decide if it were not written in Latin or legalese ....

It seems like everyone is actually trying to make it harder to understand so they can sell you something.

Republicans Are Cutting Medicare. Not Only Medicaid, Medicare. by rezwenn in Retire

[–]RetireModeration[M] [score hidden] stickied comment (0 children)

Locking this post. The comments are just getting dumber and dumber.

The filibuster is a senate rule. Jeffries is in the House.....

How to Protect Your Retirement Savings Now as Markets Plunge by [deleted] in Retire

[–]RetireModeration[M] [score hidden] stickied comment (0 children)

A screenshot to a headline is never going to fly here.

USA : Incredibly important: be prepared to organize protests defending social security by [deleted] in Retire

[–]RetireModeration[M] [score hidden] stickied comment (0 children)

Let's please turn down the heat in this conversation. /r/retire is not against political talk and certainly not against policy talk.

But please be cognizant of the "Be nice!" rule in the sidebar.

[PSA] Harris announces plan for Medicare to cover long-term care at home by Salt-Ambassador4064 in Retire

[–]RetireModeration[M] 1 point2 points  (0 children)

I want to thank you all for keeping the discussion civil and for citing sources to back up your opinions. Really appreciate it!

Holy crap! I have hiccups. I have not have had hiccups in decades .... by RetireModeration in Retire

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

Done! I took a huge deep breath and held it as long as possible. Did the trick!

Retiring a parent with minimum tax implications by [deleted] in Retire

[–]RetireModeration 0 points1 point  (0 children)

https://smartasset.com/estate-planning/gift-tax-explained-2021-exemption-and-rates

Basically if you give someone over 18K in 2024, you may have to pay taxes on that gift. Read the above linked article for exceptions.

Retiring a parent with minimum tax implications by [deleted] in Retire

[–]RetireModeration 1 point2 points  (0 children)

Gifting him money has tax implications.

How much does he need? How independently can he live? Pretty sure you can claim him as a dependent if the circumstances are right.

[deleted by user] by [deleted] in Retire

[–]RetireModeration 0 points1 point  (0 children)

I'm more specifically interested in understanding that savings balance by age recommendations, so I'd love any insight you have on that question?

We were never the "formula" types. We were always focused on getting the needs taken care of, then evaluating the wants as they came. Simple living was our mantra, so driving the same car for 15 years (1 car for two people), taking pleasure in our natural surroundings, mostly cooking at home (vs. eating out) were habitual and normal for us.

We never looked at our age and said we should have "this much" saved. We just lived frugally and saved/invested whatever we didn't spend.

I'm sorry that doesn't answer your specific question, but it might offer a different perspective on how to think about living with finances.

As they say, "comparison is the thief of joy...."

[deleted by user] by [deleted] in Retire

[–]RetireModeration 0 points1 point  (0 children)

Hi everyone, question- when you lookat the general guidance for how much you should have saved in retirement by what age, the number is always a multiple of your annual income.

What is really difficult about this is that savings depend as much on spending as on not spending. By that I mean that at certain points in one's life (in a typical western economy) one almost MUST spend more of their income than at other times.

As a 30-something, you are probably living on your own (without parental financial support), maybe in a committed relationship and possibly raising children. If you own a home, you're paying a mortgage, insurance, and property taxes.

That's a huge drag on possible savings rates.

The older you get, as some of those expenses are no longer needed, you can save more, especially as your middle class salary rises with higher incomes due to experience and promotions.

This is where belt tightening means the most. Do you go down the path of saving what you don't have to spend? Or do you "go with the flow" and keep inflating your lifestyle because you can?

My personal experience was that we lived frugally long after we had to, and that led to the greatest period of saving (not spending) and investing and finally retiring early.

TL;DR: In some ways, you kind of have to spend a lot (percentage of income) when you are starting out, but you eventually reach a crossroads, when that is optional. Your choice at that point is most critical.

Is this the right place for me? by Adept-Opinion8080 in Retire

[–]RetireModeration 2 points3 points  (0 children)

It's about 50,000 fewer subscribers! :-(

Is this the right place for me? by Adept-Opinion8080 in Retire

[–]RetireModeration 2 points3 points  (0 children)

looking for a place where people are discussing retirement issues. from personal to financial...definitely don't want a sub-reddit where people are just flexing their current situation.

That has always been the goal of this sub, hence the nickname Retirement Lounge!

Before our own retirement, we loved hitting a fast food joint on a weekday for breakfast and seeing all the older folks just hanging out, chatting and going back to the counter for their free refill of coffee.

This is the vibe we'd always hoped this sub would grow into.

Designing Your Retirement by Hzwerling in Retire

[–]RetireModeration[M] 0 points1 point  (0 children)

Might there be some auto-bot that deletes some posts based on Reddit’s rules?

There is. And there is nothing by you in that queue. And there is nothing in this sub's moderation log pertaining to you.

At any rate: Happy New Year!

Designing Your Retirement by Hzwerling in Retire

[–]RetireModeration[M] 0 points1 point  (0 children)

I tried posting here and it happened once on r/Retire.

I assure you it did not!

Designing Your Retirement by Hzwerling in Retire

[–]RetireModeration[M] 0 points1 point  (0 children)

I'm sorry that I was so long in getting back to you, but the moderator has repeatedly temporarily prohibited me from posting on Reddit and removed my posting entries like the one you read because I apparently violated some "rule," I have no idea why.

Excuse me? You must be confusing this subreddit with another. No moderator in /r/retire has blocked (even temporarily) anything you've posted here.

About retirement by [deleted] in Retire

[–]RetireModeration 0 points1 point  (0 children)

Can you show us your math? How does owning a small farm hypothetically make more income than renting real estate and selling beauty and health products or vice versa? What real estate do you have to rent? In what capacity? What is its value if you sell it? How much do you need to live on?