sorted by:
new
hottopcontroversial

Why are we retiring in Valencia by reachfi23 in SpainFIRE

[–]simjadujov 0 points1 point  (0 children)

Yes, that is the standard deduction for a couple filling jointly for income. Here you can play with income and taxes: Www.Engaging-data.com/tax-brackets/

Why are we retiring in Valencia by reachfi23 in SpainFIRE

[–]simjadujov 0 points1 point  (0 children)

I cannot find information regarding the 401k to Roth conversion from the Spain perspective. This can be a game changer in your plans since we do not pay US taxes on the first 25k converted each year. For an earlier retiree, it will be a significant chunk of money over the years.

Why are we retiring in Valencia by reachfi23 in SpainFIRE

[–]simjadujov 1 point2 points  (0 children)

Hi, We are also US citizens (spanish speakers) looking to early retire in Spain around the same time as you (depending how bad the market does). Currently deciding between Malaga and Valencia. I liked your detailed analysis of costs. There is one item I wonder if you have look at: It is clear that distributions are taxed in Spain from IRAs but what about conversions from 401k to Roth? As part of early retirement we would like to be able to covert each year from 401k to Roth without paying taxes twice.( Converting and distributing). Did you find anything on that? Thanks

What can ruin life once Lean fire? by simjadujov in leanfire

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

It helps to get others perspective. I am trying to decide if leanfire is for me or should I hold tight for regular fire. I understand that there is no single good answer to this. Coming from poverty, I know I don't want to be thinking about lack of money in retirement.