Any words of wisdom about them with disability?
in the last few weeks i am learning a lot about them that i should have learned 7 years ago when i went on disability.
i just didn't realize i should look at them when my status changed to disabled. most "pressing" is i think a missed opportunity? I think i could have been converting a small amount of the tax-deferred IRA to a Roth which can be taken out w/out taxes. if i convert a small amount of tax-deferred IRA yearly to a Roth-below a level of it affecting a change to my tax bracket it can be taken out in its entirety with out a tax shock that would happen in the future if i took tax-deferred IRA funds all at once to buy something needed in the future???
i didn't have my 40's, 50's or half my 60's to prepare for retirement, so its not much. not sure about any of this.
i'm not a "financial type" of person.
but at least i'm looking at it now. i'm even thinking about calling the local aging & disability resource center for advice on IRA's. another thing i should have thought about 7 years ago. the people who have your money for retirement have no motivation to contact you about giving it back, especially when earlier than planned. and when earlier than planned you just don't have easy access to the information resources if it had happened in the correct time frame.
i want to encourage anyone with this change in status to check your personal circumstances.. i will post what i learn. it was all terribly confusing happening during this terrible economic time.
i apologize in advance if i have offended anyone who did not even have their 30's or the terrible economy caused the end of what they saved for retirement. I realize both when i am lucky & not as lucky as i would have wanted to be.
in the last few weeks i am learning a lot about them that i should have learned 7 years ago when i went on disability.
i just didn't realize i should look at them when my status changed to disabled. most "pressing" is i think a missed opportunity? I think i could have been converting a small amount of the tax-deferred IRA to a Roth which can be taken out w/out taxes. if i convert a small amount of tax-deferred IRA yearly to a Roth-below a level of it affecting a change to my tax bracket it can be taken out in its entirety with out a tax shock that would happen in the future if i took tax-deferred IRA funds all at once to buy something needed in the future???
i didn't have my 40's, 50's or half my 60's to prepare for retirement, so its not much. not sure about any of this.
i'm not a "financial type" of person.
but at least i'm looking at it now. i'm even thinking about calling the local aging & disability resource center for advice on IRA's. another thing i should have thought about 7 years ago. the people who have your money for retirement have no motivation to contact you about giving it back, especially when earlier than planned. and when earlier than planned you just don't have easy access to the information resources if it had happened in the correct time frame.
i want to encourage anyone with this change in status to check your personal circumstances.. i will post what i learn. it was all terribly confusing happening during this terrible economic time.
i apologize in advance if i have offended anyone who did not even have their 30's or the terrible economy caused the end of what they saved for retirement. I realize both when i am lucky & not as lucky as i would have wanted to be.
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