Fuelman » 05 Jun 2025, 9:11 am » wrote: ↑
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.
If you're living on 60 with a paid off home and cars and with no kids to get thru college, you're doing better than about 90%, I'd guess.
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