On Wednesday, December 28, 2016 at 12:43:19 PM UTC-5, philo wrote:
On 12/28/2016 05:52 AM, Dean Hoffman wrote:
From the U.K. Daily Mail:
http://www.dailymail.co.uk/news/article-4069604/We-live-pleasant-simple-lives-Meet-couple-earn-110-000-year-THIRTEEN-kids-college-funds-never-owed-cent-debt.html#ixzz4U71ut92v


The couple makes about $110,000 per year. The borrowed money only to
buy their house which is paid off now. The money they were paying to
the house mortgage is going into retirement funds now. He's 49, she's 46.




He got paid more than I did, but FWIW, I raised one kid with zero debt.

I taught her how to invest all her birthday and Christmas money.
She did so well she paid for most of her own college, I just had to help
her out with a few minor expenses.

I knew she made it on the day she called just to say "hi" rather than at
the end of the conversation saying, "Oh Dad, by the way..."


Also: I busted my butt and had my house paid off by the time I was 45. I
put the max I could into retirement and after my SSN take a fairly
minimal amount out of my 401 plan.

I don't know your age or the amount in your 401k, but if you have any room
left in your current tax bracket, you might want to consider doing Roth
conversions.

Once you hit 70.5 the RMD might push you into a higher tax bracket. By reducing the value of your 401k and paying taxes now, you may avoid higher
taxes later on.

There are calculators on the web that can help you decide if a conversion
makes sense and if so, how much.

You still have 3 days to do a Roth conversion this year. Hurry up! ;-)