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Re: jsc52033 post# 235

Friday, 10/28/2022 10:11:25 PM

Friday, October 28, 2022 10:11:25 PM

Post# of 282
Looks like you have made some great moves. I'm 66 and retiring so the tax deferred game is pretty much over for new investments.. All those deferred gains are now becoming real income liabilities. If my income was much lower then maybe the delayed tax liabilities granted for 401K and IRA's would not be so onerous. Bottom line is while still getting some consulting income my earned income is ~25% of what I was earning the last five years from 60-66. My taxes are every bit of that as the income is now taxed for all those deferred Comp, and IRA, 401K as well as SS. distributions. Its ugly. My physical precious metals at least allow me capital gains as well as some flexibility on selling or gifting them. Given what I hear Bozo Biden might be contemplating its bend over and grab your ankles time.....My fear is its only going to get worse...having the physical metal is going to be the best options IMHO. I see the barter options as maybe the last best way to transact without the tax implications. Maybe I am just naive but its still money and spending it as such may be the last tax break going.

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