Tundras live: Dumb Dad Jokes, Incorrect Opinions, and Relationship Advice.

There was a recent news segment up in the Boston area (not tied to AT&T) talking about how rotary phones are making a comeback, mostly because the youth haven't seen them before.

I'm waiting to hear more details about the AT&T fiasco. With CISA only standing by to assist, and keeping a positive attitude, i'll just assume this is a red team event intended to stress the incident response and business continuity plans. Interesting shot across the bow to all service providers and consumers, regardless of the cause of the event.

 

You should have said, 'BTW I loved your outfit today'...

 

Not all of us would enjoy prison the way you would.

 

of course you do...

 

I take it you had that experience in a previous life

 

<5 out is a great place to be; don't forget about taking advantage of any 'catch-up periods' available to you for any retirement accounts... Usually, available during the last 3 years. It'll give you a huge tax break especially if you're going to end up w/a large final check paying out any bonus, time due, etc... If you can, look to retire at the beginning of the year (2 reasons) especially if you'll see a large payout of severance:

1) Let's say you're looking to peel 38k or whatever the max catch up into a deferred account tax free: the sooner in the year you pull the plug, the more of that huge final check you collect (defer into retirement accout) tax free vs. paying into the retirement account the entire year and then only being able to take out a small portion of that huge check since you've been already been stuffing $$ into that account most of the year.

2) First year of retirement end of year taxes (when you file the following year); Let's say you make $150k/yr and your retirement will net you $100k/yr from a 'deferred' account (which means you'll be paying taxes on that money as you collect), and you are to receive $100k in severance/payouts, etc. at retirement...

If you retire at the end of the year, you will net $150k (normal income); minus let's say $38k you deferred into a retirement account; plus your $100k severance, bonus, payouts; plus $18k for a month or two of retirement income... So for the last year of work/first few months of retirement, you'll 'earn' or be taxed on about $230k

On the other hand, let's say you retire at the end of Jan; here's what that last year of employment/first year of retirement will look like: You net $10k (normal income); plus $100k severance, bonus, payouts, etc; minus $38k (deferred including catch-up period into retirement account); plus first year of retirement income of about $90k... in this scenario, you'll 'earn' or be taxed on about $162k...
(much less of a tax burden for that last year of work/first year of retirement)

PS>>> Adjust #s accordingly, but the principles are the same... Remember taxation (by the feds) is 'tiered', so that income from $162-$230k will definitely be taxed at a higher % rate than your normal income, and you stand to save between $12.5-$15k just in hard $$ paid out to the IRS


PPS>>> Of course I am not a financial or tax professional, so always seek proper guidance from your attorney or tax professional before making significant financial decisions; or at least run it by our Forum's own Financial Advisor @LarryDangerfield


PPPS>>>

 

Are you rating them on taste or their ability to hydrate you???

 

x2

 

Had to google that…

 

We all have to learn somewhere. You're braver than I am. I don't google anything on here when I'm at work. LOL Never know what kind of phuked up stuff will pop up with the degenerates I associate with in this fine establishment.

 

Me too but now I know, I’ll use that one.

 

Less than 5 years is good; where I live now is not. Plus, I will still have to work a bit if I bail from here in four years. It is a balance. Healthcare cost and where my daughter goes to college are two big factors still in play.

Catch-up deferrals are no longer pre-tax.

Taxes…yes, will recon all of that when the time comes. Including what states don’t tax retirement income. Whether or not to cash out my pension. Yadda yadda yadda…

 

I am always on my personal phone. Short answers with spelling errors are all from my two-thumb ninja typing.

 

So hold on a sec... you can flood a thread w/a bunch of silliness, dad jokes, wi-fi trolling, tic toc videos, etc. (which collectively took up far more space and energy to process mentally than what I wrote), but you can't read some insightful shit that I write

 

and you... you're getting paid to be here half the time, so suck it up buttercup and read my shit

 

I ate that shit up, I nerd out on that kind of stuff though.
Here guys retire before 7/1 so they qualify for the COLA. We get our raises every 4/1, so it's a nice little extra benefit

 

Posts are about quantity…

 

…not quality

 

I'm going back to just posting emojis...

 

I'm not getting an EV cuz I hate the planet

 

Gobbler's Knob, even.

 

@T-Rex266 If there ever was a perfect time for a dad joke or pun, this is it.