5 Jun 2025 9:11 am
That would be prudent if we were drawing from those accounts to make ends meet. As it stands, any withdrawals from those accounts take a 22% federal tax hit.
This was the main reason for building up the cash reserves of 5 years of living expenses @$60k a year. Our retirement income without pulling from retirement accounts is over 6 digits. That leaves a little fun money, dropping 5 grand at the casino doesn't hurt much.
When the poverty level for 2 reaches $100k, I'll start getting a bit nervous.