Why EVERYTHING Changes for Retirees With $5 Million Saved

Comments · 69

• IT

  @itfitz · 2 weeks ago · pinned

  You are talking directly to me. My wife and I have over $5M in our retirement and brokerage accounts. Our problem is that we also have three pensions (two for me and one for my wife) that total about $135,000/year. Our social security is about $75,000/year, so before we even touch our retirement/investment accounts,. we are looking at $210,000/year in income. I know it's a good problem to have, but it's still a problem. I am with Fisher Investment and I think they are doing a great job, but it still worries me that I am going to be clobbered in about 10 years. Fisher estimates my portfolio will be around $25M when I am 91. Yikes!

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• JJ

  @JJJ5.7 · 13 days ago

  Great video.

• CO

  @Corrigan_2028_GK · 2 weeks ago

  Do you use $XDIV and $BOXX in brokerage accounts?  What about 351 ETFs?

• TH

  @TheJAXguy · 2 weeks ago

  Wealth sucks...😢

• VI

  @vinyl1Earthlink · 2 weeks ago

  Their actual income is $304K when you add back 15% of SS, and they&apos;re paying $46K. &nbsp; That&apos;s a 15% average tax rate, which is really not bad. &nbsp; The problem is living in California, and paying another 10%.<br>I&apos;m living in CT, and paying Fed plus &nbsp;CT of about 19%.

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• EL

  @elizabethandrews4199 · 2 weeks ago

  You want to leave your real estate because it gets a step up in basis!!! Hopefully you don’t have a mortgage at this point.

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• HA

  @HapKiDoRob · 2 weeks ago

  I have the good fortune to share this problem. &nbsp;I have pensions. &nbsp;I have taxable brokerage accounts that make it nearly impossible to predict my regular income so it makes it difficult to figure out how much space I have in the bracket to do a Roth conversion. &nbsp;Nice video.

• SP

  @spinnetti · 2 weeks ago

  A confounding factor is prior to retirement having a high income - there&apos;s no room for conversions. We&apos;ll claim ss at 70 to give us some room and I&apos;ll immediately start doing roth conversions at the 24% tax rate, but looks like I&apos;ll never get below that. Good problem to have I guess.

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• KE

  @keystone117 · 2 weeks ago

  Excellent video. I retired at 55, five years ago. Still have another two years of stock warrants from my last employer to work through. They count as ordinary income, so I’m able to make Roth contributions and get two more years at max Social Security contribution by cashing in the warrant at approximately $200,000 per year. After that, it’s Roth conversions to try to drive down my old-school 401(k) balances. Right now I am at about 30% in brokerage 40% in pre-tax and 30% in Roth. Is there an ideal ratio? I don’t think I’ll be able to convert it all to Roth before I’m 75 but wondering if there’s a general rule of thumb?

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• FR

  @frankmartin3520 · 2 weeks ago

  At your 1.25% that’s $62k in fees per year on a $5M portfolios. &nbsp;At $400/hr that’s 155 hours or 4 weeks of full time work on that one account every year?

• PJ

  @PJ-ps3vv · 2 weeks ago

  I’m absolutely livid that my parents left me this tax nightmare of a 9 million dollar IRA - said no one ever!!

  2

• TE

  @texastanjore · 2 weeks ago

  Excellent ! Now, how about a video for those of us for whom the golden window has closed?

  1