Large 7 digit IRA

[Lordosis]

There's also the part of the equation of once reaching FI -- do you let off the savings pedal -- especially with RMD concerns and retiring too rich.

I love my job and don't want to decrease time -- so we increased -- gads---- spending Less RMD concerns now 2 years into a spending spree.

RMD problems are really a worked longer than you had to problem. If you enjoy working then not really a problem.

It would probably be easier for me to cut back work than spend more. Maybe I will learn with time.

[FIREshrink]

To clarify, are those your annual investments? Sorry if I misread that as your present balances. If you keep investing 70k/yr in pretax, you will eventually run into an RMD problem situation, especially if you plan to keep working such that you do not have many years to do conversions, especially when you consider your taxable will likely be generating income. I would still favor maximizing the 401k, not only for tax benefits, but also for liability protection.

Annual contribution

[Larry Ragman]

I don't want to rain on the parade but with the Dems firmly in control and Biden promising to nix Trump's 2017 tax law I think the bonus depreciation cost segregation studies are done. We'll see what happens as I think we'll know before very long. It was VERY good while it lasted.

I figure one more year...

[Tim]

I don't want to rain on the parade but with the Dems firmly in control and Biden promising to nix Trump's 2017 tax law I think the bonus depreciation cost segregation studies are done. We'll see what happens as I think we'll know before very long. It was VERY good while it lasted.

The effective date would be? I am sure any change would be fair. What comes to mind is WBD closing a deal or two only to find the rules have changed when the smoke clears.

[dennis]

The effective date would be? I am sure any change would be fair. What comes to mind is WBD closing a deal or two only to find the rules have changed when the smoke clears.

My fear is he would do as Clinton did when he passed his tax bill. He made it retroactive to Jan 1 of the year it passed. Assuming Biden will get his bill passed in the first 6 months of this year the cost segs. will be toast. We'll have to see what happens.

[Kennyt7]

You cannot be too rich or too skinny. MAXIMIZING your ret plan will lead to a very happy financial retirement and no worries. Most retirees greatest fear is running out of money. OVERSAVING allows you the freedom to be more aggressive with equity investments

[Tim]

My fear is he would do as Clinton did when he passed his tax bill. He made it retroactive to Jan 1 of the year it passed. Assuming Biden will get his bill passed in the first 6 months of this year the cost segs. will be toast. We'll have to see what happens.

That is the point.This time it is prudent to consider potential tax impacts that may vaporize.
White.Beard.Doc certainly is wise. A major reallocation was premised upon this tax strategy. I am sure the investment is sweet. Just less sweet if the change is retro.

[JBME]

There's also the part of the equation of once reaching FI -- do you let off the savings pedal -- especially with RMD concerns and retiring too rich.

I love my job and don't want to decrease time -- so we increased -- gads---- spending Less RMD concerns now 2 years into a spending spree.

This is part of the plan! Let off the savings in several years. If you save more than 20% for retirement in your early years, you can save less than 20% in your later years

[burritos]

You cannot be too rich or too skinny. MAXIMIZING your ret plan will lead to a very happy financial retirement and no worries. Most retirees greatest fear is running out of money. OVERSAVING allows you the freedom to be more aggressive with equity investments

Anorexics can be too skinny.

[Kennyt7]

Biden said no tax increases under 400k income-i am safe

[Hatton]

There's also the part of the equation of once reaching FI -- do you let off the savings pedal -- especially with RMD concerns and retiring too rich.

I love my job and don't want to decrease time -- so we increased -- gads---- spending Less RMD concerns now 2 years into a spending spree.

I think finding the "sweet spot" of saving enough and allowing yourself to spend it while you can enjoy it is what all this planning is about.