There was just a merger of 13 PE backed CPA firms announced, the "new" firm jumped into the top 50 by revenue. Still small potatoes compared to the Baker Tilly/Moss Adams merger announced last month with a large PE investment. Doesn't seem to be slowing down.
Agree on the succession planning...
I have had one for about 3 years and like it it a lot. It felt a little bulky at first when archery hunting but I got used to it quickly. I had a cheap Leupold before that which I was never happy with.
Could try to get it to you to test out for a bit if you wanted to try it out.
One way that social security is "means tested" is by taxing it at up 85%. Lets say a married couple that had above average earnings and retirement income has combined social security benefits of $60k a year and they are in the 22% tax bracket - they would pay about 11k a year in additional tax...
I did some reallocations and Roth conversions in the first 2 weeks of April. Down about 3% YTD on IRAs/401ks. Still down about 8% from peak in the fall.
Was at some meetings the last couple days and there was an Idaho old timer there. He was telling stories about growing up in Sun Valley while his mom worked at housekeeper for rich folks. He remembers wandering around the streets and sitting on some eccentric guys lawn while he told stories...
A few pics from the last several years.
Stinky deadhead:
Kitty while deer hunting. Blocked out the recognizable background that I am sure many people would know.
Maui shore fishing:
Wife with moose:
Late night moose cutting up:
WY
If you can always get that timing right, great. And you should start a hedge fund. For 99% of people leaving it in is the best approach. With some mindful allocation adjustments based on risk, age, etc.
https://awealthofcommonsense.com/2014/02/worlds-worst-market-timer/...
You are referring to regular Roth contributions which requires wages/earned income. It is specifically prohibited to convert RMDs to Roth. Roth conversions are a whole different game than Roth contributions. Plenty of people do them DIY but if someone doesn't understand them they should work...
Yep, say you retire with $1M in a 401k. Plan on 5% or $50k per year. If market goes down and you're at 900k then you would take $45k. The reality is most people will have fluctuating living expenses, trips, vehicle purchases, etc. so they might range from 3-6% depending on what is going on.
Yes and its generally conservative based on past market performance. So if the market is down and 5% is needed it should not kill someone's plan. But definitely more risk.