Are you guys checking the health exchange? If you keep your income down you can basically get coverage for very low cost or nearly free after subsidy. The gubmint acts as your "employer" and pays the lion's share.
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Are you guys checking the health exchange? If you keep your income down you can basically get coverage for very low cost or nearly free after subsidy. The gubmint acts as your "employer" and pays the lion's share.
I guess if you retire, your income all of a sudden goes to zero, no? Or does the gov't take a look at what you have in your retirement accounts and other assets and calculate off of that figure?Quote:
Originally Posted by yeahman
You still have taxable income from SS, 401k withdraws and income on investments.Quote:
Originally Posted by Toadman
Because people are not logical and the change would destroy 90+%of private health insurers(nothing of value was lost) and destroy profit in shitty hospital systems. Oh hey Rick Scott.Quote:
Originally Posted by skaredshtles
Take the lobbyists out and it's a lot more tenable
Ought to be able to keep that pretty low in retirement... maybe.Quote:
Originally Posted by Skistack
I guess it depends on a few things. What's the nest egg look like and how is the snow in Hokkaido in January for example.Quote:
Originally Posted by skaredshtles
Yeah - those international ski trips definitely can fuck up the budget. :DQuote:
Originally Posted by Toadman
Ditto. My goal is no later than 58 (10yrs), but those 7 years of $2k+/month insurance costs starts to mess up my forecast. Also need to somehow convince the wife to move to Thermopolis WY. The latter is much less likely to happen.Quote:
Originally Posted by skaredshtles
Adjusted Gross Income is all they look at. They leave it to you to predict your income for the following year and base your subsidy on that. If you come in high or low they settle up with you at tax time. The biggest thing is you can't be eligible for any other health insurance through your job, wife's job, medicare, etc. That worked for us because I was self employed and my wife was working two parttime jobs, neither of which offered insurance to anybody working less than 30 hours a week.Quote:
Originally Posted by Toadman
Would also like to hang it up sooner rather than later, but insurance would likely be our single largest cost. Might look into catastrophic only supplemented with medical tourism
Thermopolis... that's a bit of an odd choice. [emoji848]Quote:
Originally Posted by ColMan
If you know, you know.Quote:
Originally Posted by skaredshtles
Cool little town. Free nice hot springs in a nice park. Small. Bighorns are beautiful. Winds close. I'd chill there for sure
We just had a whole thread about this. If you can live on 4x the federal poverty rate plus the annual HSA max you can get an ACA plan for *much* less than $2k per month (in most states).
That thread gets into a number of other strategies for gaming down AGI. Also, not all money you take out of investments is considered income. Roth distributions, for example, are not taxable income.
In between two wonderful sport climbing locations. It's on my short list although Lander isn't that expensive anyway.Quote:
Originally Posted by skaredshtles
This is extremely state dependent and there are drastic differences from one state to another.Quote:
Originally Posted by yeahman
It’s insane to me that neither political party is running on a platform of universal healthcare or even basic shit like a national minimum vacation policy, national minimum sick leave or parental leave.
Socialism!Quote:
Originally Posted by Kevo
colorado has the famili actQuote:
Originally Posted by Kevo
it just went into effect last year maybe it's brilliant idea
the amount a paycheck is taxed for it is pretty minimal like nothing really
but people fought against their own interests and well being of course cause taxes and gov't you know
but like all gov't shit it will be underfunded in the next year or two because of political math at work
just saw an article graph that showed how red congressional districts take the most federal dollars
thought that was pretty funny
I forgot about that. I think Montana basically punted the whole thing back to the feds and let them set it up. IIRC our asshole politicians were trying to be difficult by not helping, but in retrospect it was probably a good decision for the consumer. My family has been using it for more than a decade and I have no complaints.Quote:
Originally Posted by Kevo
It has always been this way.Quote:
Originally Posted by fastfred
Just a quick Google search and proverty income level in 2023 for a family of 4 is $30k. If you can't make it on 4x the poverty level, then you are doing something wrong. I long ago passed the income level where I can contribute to a Roth. So, at least I have that going for me.Quote:
Originally Posted by Dantheman
I guess I need to go check out the early retirment health insurance coverage thread and get educated.
he stuck in his thumb
and pulled out a plum
and said what a good boy am i
This is how Gen Alpha is seeing housing
.
https://www.tiktok.com/@jessewelles/...48801465699614
It wouldn't be 4x the poverty level for a family of four unless you still have two dependents at home.Quote:
Originally Posted by Toadman
There are a lot of things you can do to reduce your reported income. The goal in those early years is to spend cash from freely available savings. No 401k/IRA (non-roth) disbursements. No selling stock at a profit. Maybe make an effort to avoid dividends and interest. No buying/selling homes (I wonder to what extent this is preventing a bunch of early retirees from downsizing/moving and freeing up their homes to new families? it isn't just interest rates that lock people into homes).
You can *spend* more than 4x the poverty level...you just can't earn it that year. Paying down the mortgage can help with this too--may not be optimal from a rate of return perspective, but could be favorable if it keeps you in the low tax brackets by reducing the amount of money you need available to spend.
I'm sure the fancy estate attorneys can come up with all kinds of other crap you can do if you have enough money. Can you put the house in a trust along with enough assets to pay the ongoing bills? Can a trust sell investments to pay for kids to go to college so that you don't have to recognize it as personal income? I have no idea...but those all sound plausible.
Or...you know...we could implement a universal *multi*-payer healthcare system like used in most of Europe and get rid of these bullshit hoops people have to jump through. I'll save the pros and cons of multi- vs single-payer universal for another thread.
Counterpoint: A quick walk through my neighborhood and it becomes pretty obvious that a lot of people should not be homeowners.Quote:
Originally Posted by Cisco Kid
Correct, for a 2-person household 4x is about $80k. If you no longer have dependents and aren't saving for retirement anymore that's not bad.Quote:
Originally Posted by zion zig zag
Also, add $10k onto that for HSA contributions. Those come straight off your AGI but you get to keep the money and can invest it.
Bottom line is that AGI is *very* gameable.
"Not allowed to own a home" sounds pretty uppity to my ears as a counter point. The POS homes in my hood are worth $800k and slums owned by lawyers and RE agents who won't maintain them.
The millennials were saying the same thing...right up until they all started buying houses (and are currently the largest group of home buyers).Quote:
Originally Posted by Cisco Kid
I see no reason why the Zs and Alphas will be any different.
Attachment 502219
The curve may be a few years behind...but people are living longer and delaying major life events. Total anecdata, but as a millennial almost none of my urbanite millennial friends owned homes until the last 5 years. The only ones who did are the ones who got married at like 22. The ones who delayed marriage and/or kids until their 30s also delayed home ownership.
It is easy to be 20 and look out at the world and say "gosh, how could I ever afford that". It is another thing to have a more stable job, have a spouse that earns an income, have the fruits of saving for years, have a better understanding of how mortgages work...and suddenly the pieces start to fall into place.
You also see a preference shift...family with little kids suddenly starts looking at the house in the affordable suburb with decent schools that they never would have considered when they lived in a cool nightlife neighborhood at 25. And yeah...they still can't afford a sizable 3br place in the cool neighborhood, but that's OK because they don't go out 3x a week anymore.
I did not say and would never say that anyone should not be "allowed" to own a home.Quote:
Originally Posted by Cisco Kid
Shit, my next door neighbors bought their house in the late '70s for less than $20k and say it was a big financial stretch for them at the time.Quote:
Originally Posted by singlesline
My compass is skewed. Bought our 1st home in '72 for 2X our annual so so income with a 12% mortgage. We had to stretch by waiting to buy a new car after the deal closed.
I wish our politicians had the stones to REALLY tackle the issue of institutional RE investors in a meaningful way. Although FTC Chair, Lina Khan's done a bang up job doing what she can on a few different consumer fronts, real change needs to come from the legislature. Unfortunately I have zero faith that'll happen. Blackrock, Vanguard, State Street, etc. owns them all. :(
https://www.youtube.com/watch?v=_6ChvQtyK7U
Sorry . "Shouldn't own a home"Quote:
Originally Posted by Dantheman
this kind of help sums shit upQuote:
Originally Posted by Cisco Kid
it seems like everyone feels like they should buy a house for a super low interest rate still have room for two nice cars and big vacations plus all the fun stuff in life and buying endless shit to make you happy
you can't have it all
I fucking sound like a god damn boomer whats wrong with me?
I did just eat 20mg of edibles because I need to check out
It will never happen in the US, and the offending party would get zero backing from corporate lobbies. Pinning healthcare to employment is the main way the government and corporations keep “we the people” tied to their job, which is how they’ll continue to take advantage of the American public. It’s all about money in this country, not what’s good for the public.Quote:
Originally Posted by Kevo
Boom. And this is why raging at each other is both pointless and the desired distraction of those pulling the strings.Quote:
Originally Posted by smmokan
Housing, food, medicine, healthcare, wage stagnation, higher education...all of it. It is no longer managed for the benefit of the people. I find it best to have a bit of levity around it and not get too bogged down. But it is real. Act locally. Be kind to those with other views. It is us versus them. Don't make it us versus us.
Boom. And this is why raging at each other is both pointless and the desired distraction of those pulling the strings.Quote:
Originally Posted by smmokan
Housing, food, medicine, healthcare, wage stagnation, higher education...all of it. It is no longer managed for the benefit of the people. I find it best to have a bit of levity around it and not get too bogged down. But it is real. Act locally. Be kind to those with other views. It is us versus them. Don't make it us versus us.
Like those issues didn't exist back in the 50s when some would argue housing was more affordable? Tribalism is an inherent human trait after all.
Housing inherently is going to be expensive. It is required for survival (in any sense of longevity) so is going to be priced accordingly.
How does drinking water factor into this theory of pricing?Quote:
Originally Posted by AdironRider
You got old and got a bag. It's the transition from punching up to punching down.Quote:
Originally Posted by fastfred
Boomer.
Water should be priced at market rates. No more subsidizing water. Either that or figure out a way to take all that flood water from the SE USA to AZ, NV, UT, NM, West TX and CA. But at some point some portions of those SW states are not going to be livable for 6 months out of the year. Blows my mind that they keep building in some portions of those states. Where they going to get the water?Quote:
Originally Posted by J. Barron DeJong