I hope that people talk to a CPA about stashing and/or withdrawing funds.
If you come from long lived stock, have a job that is easy and enjoyable and find yourself, like one of my friends, at the top of your game, making the most you’ve ever made and loving to work at 72 or so (I know several artists and coders who are BETTER at 75 than at 55), then why should you have to take money out and be subject to taxes when you don’t need to?
A mentor was still working as a stockbroker well into his 80’s, he chuckled that he made more money every year, and LOVED the game.
“Retirement” made, and makes sense for people who have jobs that wear them down, or don’t love what they do, or have other plans; some folks are doing what they love, and that alone can keep them young. In my direct observation.
I rather stash my money in my mattress with no withdraw penalty or wait until I reach 70 (that is IF I reach 70).
“Don’t really see the point when you’re already 70. You think you can take it with you?”
No but you can pass on what you don’t spend to your children. The general rule has been that the longer its tax deferred the better — at least in this climate. There is a counter argument to consider. If one believes the dems will take complete control in a few years and implement massive tax increases one may wish to consider pulling out more now. Those comparisons can be modeled.
Yes — CPA advise is always good.