Reply to Just surpassed $1m net worth

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not to burst a bubble but your combined net worth just crossed $1 million.  Your individual net worth is 1/2 of that.  Still not bad but everything is easier in two player mode![/quote]

And way less if appreciated stocks or 401k assets as tax consequences when you sell.

You need at least 1.3 million in a 401k to have a million dollars as you have to account for taxes [/quote]

Not necessarily true.  I retired early and there are ways to reduce the tax consequences of retirement fund withdrawals if you do it right.  I know this is true, because I'm doing it.  [/quote]

Harder to do in future. Now you don’t have to do RMD till 72. By that age will have 5 million in 401k. I would be pulling several hundred thousand a year out. [/quote]

I certainly understand the concept of figuring your net worth on an after tax basis, but that is not the convention.

Having said that, if anyone can point to materials on how to reduce the tax consequences of retirement fund withdrawals, I would be very interested.

I have definitely been thinking about doing what the second PP is suggesting, which is to begin making largish withdrawals from my 401K and putting it into a Vanguard investment.[/quote]

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