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  3. Can anyone explain why cant you retire once you reach $1M before 50?

User Info: RollingCradle

RollingCradle
3 weeks ago#91
Sounds like Ferrari LaFerrari time!

User Info: ms555

ms555
3 weeks ago#92
Companies cant actually force you to keep working. If its at-will employment, basically the relationship can end anytime

If you're a contracted worker, thats the only time you need to work for the the full contract. If you don't fulfill that contract, the company can collect damages for breach of contract

Companies of course can enforce non-compete clauses. But that's not really relevant to this topic haha

User Info: jay2101

jay2101
3 weeks ago#93
Yeah. Good luck staying hired

User Info: djwagon

djwagon
3 weeks ago#94
Ana_Nuann posted...
That tax bracket is less taxed than your current bracket.

your still going to be at the higher bracket.it never going to go down

I am voicing my opinion here on how i see the subject .when i post .i will not be bullied into change it

User Info: ChowYunFatt

ChowYunFatt
3 weeks ago#95
jay2101 posted...
Yeah. Good luck staying hired


Good luck trying to hire me once I have enough to retire.
Not as good as some, but far better than most.

User Info: AzaneAzer

AzaneAzer
3 weeks ago#96
djwagon posted...
your still going to be at the higher bracket.it never going to go down


And Tax Brackets don't start until you hit that tax bracket.
So you're still making the same within that bracket, and being taxed higher on your earnings over that bracket.

User Info: djwagon

djwagon
3 weeks ago#97
ChowYunFatt posted...
jay2101 posted...
Yeah. Good luck staying hired


Good luck trying to hire me once I have enough to retire.

lol make sure you have enough to match what you give the state your in taxes and the irs every year

I am voicing my opinion here on how i see the subject .when i post .i will not be bullied into change it

User Info: djwagon

djwagon
3 weeks ago#98
AzaneAzer posted...
djwagon posted...
your still going to be at the higher bracket.it never going to go down


And Tax Brackets don't start until you hit that tax bracket.
So you're still making the same within that bracket, and being taxed higher on your earnings over that bracket.

lol what every you say expert.since you claiming to be a expert .mind showing me a link that back up your claim

I am voicing my opinion here on how i see the subject .when i post .i will not be bullied into change it

User Info: HappyGuy

HappyGuy
3 weeks ago#99
drclaeys posted...
Friends,

This will sound funny. 1 million is not really that much. only to people that do not have that kind of money.

My dad died 3 years ago. left my mom 1 million bucks. she went into assisted living. $6000 a month. She STILL had her house, and bills for that. She smashed her car, totaled it. bought a new one for like $30,000+ cash.

3 weeks ago she died. We had a trust, there is only my brother and I . Funeral services are thousands. I paid for all meals for 4 or 5 days... maybe over a grand. For all people connected.

To make a long story. short, I am getting $500,000+ dollars. I have a house loan, a truck loan. I will give my oldest kids like $40,000 each. I will give some to my moms church.. .they ( my parents ) were very connected to that church.

My wive wants to go to Hawaii and Bora Bora. I assume that money will be gone in a blink of an eye.
I am 56.

So 1 million is not that much, if you have kids.. everyone will have their hands out!!!!

If you are going to dream, maybe dream BIGGER!!!!


Sorry to hear about your mother
A Mod/Admin said on 4/2/2018 8:47:55 PM:
Please do not call other users a potato.

User Info: AzaneAzer

AzaneAzer
3 weeks ago#100
djwagon posted...
lol what every you say expert.since you claiming to be a expert .mind showing me a link that back up your claim


https://www.investopedia.com/terms/t/taxbracket.asp

I am not an expert, or claiming to be, I just have a vested interest in how my taxes are handled, because I'm considered a private contractor in tax code, which means I pay more than most people do (Because employers match half of taxed income)
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