there is nobody luckier than me.

[susandennis]

I just sent my financial advisor an email telling him I loved him.

I had sent him a note outlining my plan for paying off the HOA assessment. It meant I would be without rainy day/disaster funds for a little while and I wanted to make sure he thought that was ok.

His reply was "I gotcha covered".

When you get old, you are required to take a cash out percentage out of your retirement account every year. This year's amount is $22,359. Ordinarily, he's just plug it back into other investments but right now is not the time to be doing that. So HOA, here's your $$. The tax bite is 22%. The result is $17,887 which puts me $2,272 in the green. ha!!

I cannot believe it. I am so so so relieved. So relieved.

Comments

[vysila]

I would be too. Good thinking to use the RMD to cover that assessment.

[legalmoose]

Woot! Is good to have good people. :)

[halfmoon_mollie1]

yup, he is definitely worth your love.

[spiffikins]

The RMD is awful! Now is not the time that I would want to be selling anything! Now is the time to buy - buy low!

But if you have to take a distribution, at least it's timed so that you can catch it before it goes back into investments - and maybe if you did end up with a loss having to take it out, you can use that against your taxes to keep more of it!

Your money guy sounds very reassuring!

[adafrog]

Great!

[desdemonaspace]

Excellent!

[timbearuk]

When life gives you lemons, have your staff make lemonade :-)

[susandennis]

now i want to crack out my needlepoint supplies!

[siglinde999]

That is great! Well done financial advisor!

[johncomic]

Your relief is always a most welcome sight.

[dorchadas]

Now that's timing.