tag:blogger.com,1999:blog-2807403883562053852.post4245280767202618456..comments2024-03-27T08:40:31.785-06:00Comments on Clayton Cramer.: All Trump's FaultClayton Cramerhttp://www.blogger.com/profile/03258083387204776812noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2807403883562053852.post-21761983664358064522019-05-06T23:07:14.188-06:002019-05-06T23:07:14.188-06:00Of course, many people can retire at 59 1/2 becaus...Of course, many people can retire at 59 1/2 because of their 401k or IRA. If the stroke had not taken me out when it did, I was already planning to retire at 59 1/2. Perhaps not quite as comfortably, but I was starting to plan the health insurance part.Clayton Cramerhttps://www.blogger.com/profile/03258083387204776812noreply@blogger.comtag:blogger.com,1999:blog-2807403883562053852.post-72691181249337083642019-05-04T22:20:36.472-06:002019-05-04T22:20:36.472-06:00I will try and explain the flaw in your logic Clay...I will try and explain the flaw in your logic Clayton. Okay Lets say I have an IRA that has grown from $335,000.00 in 2014 to $415,000.00 now. In short its gone up 33% roughly in five years. If the IRA continues to grow, in ten more years you might have $750,000 when you hit 65 and can start drawing Social Security. You can start taking money out of the IRA at 59.5, but there are limits without penalties.<br /><br />The issue is what do you live off of until you hit those magic age numbers. I have a separate account of money that is in a market fund so it makes something. I would like to buy a house easily, but thanks to Dodd Frank I have to be working for two years to get a mortgage. Based on what I am now paying for rent I could easily handle a 15 year mortgage. But No, I must use what I have in the other account to buy a house directly and then live off the remainder until I hit the magic ages. The issue is thus not what the IRA gives me in 10 years, but how much I need to survive until then. I'll be able to buy quite a house by then, but too old to enjoy any off it.James Gibsonhttps://www.blogger.com/profile/05049975540976175810noreply@blogger.com