FAO sightless

[picklemonkey]

what is the average tax bracket that you've seen for retirees? 35%? can brackets go higher than that?

just curious

[thesightless]

Re: FAO sightless

lower..... and depends on income. 35% is one of the higher ones.

35% is the 5th bracket, and depending on your filing status, the income amounts putting you there change. if your arre single the 143,500-311950 are the thresholds and the tax is just over 14k + 35%the amt over 143500. (these are 2003/04 numbers.)

[jarble187]

Re: FAO sightless

what is the average tax bracket that you've seen for retirees? 35%? can brackets go higher than that?

just curious

Planning on retiring Pickle or just helping out grandma?

[picklemonkey]

Re: FAO sightless

I'm refinancing on my house right now (actually finished the final step of it at 7am this morning), and setting up a Variable Universal Life Insurance policy to start planning for retirement. Am doing an interest-only deferred loan on my house and investing the difference from a conforming loan into the VUL plus a smaller self contribution... was considering stopping my 401k contributions and putting them straight to the VUL as well but sightless answered my question for me

[shosh]

Re: FAO sightless

pickle, thought about investing in real estate in other states or using your cash for hard money lending?

interstingly enough pickle can come up with some inteligent posts...

[picklemonkey]

Re: FAO sightless

1) yes, but not hard enough

2) yes, but not often enough

[shosh]

Re: FAO sightless

1. you should.

2. you should

[picklemonkey]

Re: FAO sightless

1.

2.