Menu
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New profile posts
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Forums
Non-Cattle Specific Topics
Coffee Shop
Retirement
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support CattleToday:
Message
<blockquote data-quote="hurleyjd" data-source="post: 1615155" data-attributes="member: 4674"><p>I have medicare and enough to pay any deductibles that occur. Been thinking about this retiring thread for a while. Been in the stock market since 1981. Been through the ups and downs. I have spent some of the profits along the way. Really have been giving some thought to it in the last few days. Turned 79 right recently and thought about 90 years old, just 11 years to there if I live that long. I could sell all of the land at what the county appraisal says it is worth and all of the stock and go cash with it all. Lots of capital gains in it land that we have owned for more than 25 years. Any way if I went cash there would be enough left over after long term capital gains tax of 28% to get by. Not ever having any gains such as interest on the cash account there would be in the neighborhood of about $120000 to spend each year not counting any pensions or SS. Yep will be paying taxes for a long time. Not a lot of things two old people can find to spend that much money on. The $120000 would not be taxed as it is not income. Only income tax owed would be on the pensions and SS income which would not be much. Would have a home after all is said and done because the home is not on any of the land.</p></blockquote><p></p>
[QUOTE="hurleyjd, post: 1615155, member: 4674"] I have medicare and enough to pay any deductibles that occur. Been thinking about this retiring thread for a while. Been in the stock market since 1981. Been through the ups and downs. I have spent some of the profits along the way. Really have been giving some thought to it in the last few days. Turned 79 right recently and thought about 90 years old, just 11 years to there if I live that long. I could sell all of the land at what the county appraisal says it is worth and all of the stock and go cash with it all. Lots of capital gains in it land that we have owned for more than 25 years. Any way if I went cash there would be enough left over after long term capital gains tax of 28% to get by. Not ever having any gains such as interest on the cash account there would be in the neighborhood of about $120000 to spend each year not counting any pensions or SS. Yep will be paying taxes for a long time. Not a lot of things two old people can find to spend that much money on. The $120000 would not be taxed as it is not income. Only income tax owed would be on the pensions and SS income which would not be much. Would have a home after all is said and done because the home is not on any of the land. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Non-Cattle Specific Topics
Coffee Shop
Retirement
Top