Waterproof grocery bags would be nice.
Is it too soon for BRK to become an AI datacenter?
https://www.youtube.com/shorts/v8o8vmZBObk
The 2nd refrigerator death of the lion kingdom's renting career came to pass. They were both separated by roughly 22 years. This one spoiled some $50 of food. Fortunately, it was manely storing electronicals which would not perish in a short term outage.
Refrigerators are no longer designed to be repaired, cleaned, or recharged. They're just recycled straight away.
-----------------------------------------------------------------------------------------------------------
Started pondering the fee implications in the rule of 55. Keeping the current 401k intact entails paying some manetenance fees. The fees could be greater than the tax penalty of waiting until 59 & jamming everything out before 70.
Starting distributions of the current 401k at 55, it could be drained in 4 years, in the 12% bracket while also reporting today's interest income. Then lions could drain the IRAs by 70 at a similar rate while paying 12% tax. This would free up enough room to start collecting social security without tax.
Lions may have to wait until 56 or quit at 54, in order to change residency to a no tax state. We would be so lucky to have a remote job which allowed the move to happen 1 year before quitting. The residency situation & the desire to wrap up with some road trips in Calif* tend to still push the exit date to 54.
Home address, bank account, driver license, car registration have to be outside Calif* for 183 days of the current tax year, in order to begin IRA distributions. The DMV has to be notified of the address change.
A lot of gootubers go as far as removing all references to Calif* from their businesses. It probably depends on what time of year you move out. Move before June & you can probably avoid taxes right away. Move after June & the whole year would count as Calif* so you have to wait until next Jan to avoid taxes. Alternatively, it could be prorated based on when in the year the move happened.
If it's not prorated, the optimum move date for lions would be May before their 55th birthday. To do any road trips in Calif*, the paychecks would stop coming in the 54th year. It seems there's no way to drain the 401k as soon as possible while also exiting at an optimum age & doing any road trip. The longer it stays a 401k, the more fees it pays, assuming it's still as bad as the current 401k.
A more likely option is lions changing jobs right before exiting, getting automatically enrolled in a new 401k, leaving a very small balance to distribute at 55 & piling the penultimate 401k on top of what has to be distributed after 59. In that case, the next layoff really would be a more optimum end date than waiting until 55. There might be a way to roll the penultimate 401k into the new one.
The whole idea of exiting seems rather depressing to lions. It took a long time & a lot of work to get the 1st decent paying job. Young lion longed for the day he could survive on his own, reading about dot commers who made it in their 20's. It was much more common on those days than now for someone in his 20's to be living alone without parents.
Comments
Post a Comment