CFP Meeting

[NitroZ7]

Just had our meeting on Friday and everything looks good. We did the Roth conversion analysis, the social security maximization and the tax optimization. Looks like I will be converting almost all the pre tax to Roth between 2026 and 2030 and have a breakeven at around 81 (my plan is to try to leave the Roth to my kids and let it grow tax free during our lives and for 10 years after they inherit it). It looks like I can spend about 50% more than I was counting on so that gives me a good buffer if I want to cut back in a down market. I think this was the swift kick in the butt I needed to stop moving the goal posts.As soon as we get moved in the new house and get new furniture and get the boat and truck in the next few months I will pull the trigger to retire and start in on the Roth conversions next year. Almost across the finish line

[Bassin273Stratos]

Glad to hear! I pulled the plug and retired 4 years ago this past February at 57 1/2. Could’ve stayed until my original goal to retire at 60. We’d met with a financial planner about 6 months prior and got good results. Felt I’d “won” the game and pulled the plug early. No regrets. You’ll love retirement!

[davidsa]

I think we need to see the "big beautiful bill" be signed to know for sure but the outlook of the existing tax rates for +7 years out makes those roth conversions very attractive. When I retired in 2024 (pre election), I was thinking we would have to go big in 2025 but now it appears that we can convert for the next 6 years at historically good tax rates. If we have historically bad and long market dips like say the 1970's then we might use the Roth money but most likely it goes to kids 10 years after the wife or I pass. that means potentially up to 35-40 years of tax free compounding on a great starting base.

[boneil]

I appreciate you delaying the May crash. I was getting nervous a market crash may have affected the selling of my old house. If you're not retiring for a couple months, that should get me past close and then I will be ready for the crash with plenty of money to put to work.

[200xp]

Congrats on the retirement!!!

Side note, I have told my children many times about when I perish, the good news is there will be no debt to settle, the bad news is there will there will be no money either because ole dad is going to have a dang good time spending it all.