"It is possible to be at a higher tax rate in retirement, and we're not the only ones to whom that could happen. "Yes, KlangFool. I am very much above average in wealth at this stage, and very fortunate. I never said otherwise. But my statement is not false. It is possible to be at a higher tax rate in retirement, and we're not the only ones to whom that could happen. That was and remains my only point. But if you want to explain why this is impossible, or why my situation would be completely unique and unprecedented, I'll let you have the last word.Rocinante Rider,
Still, it is more than conceivable to end up in a higher post-retirement tax rate. I'm sure that we're not the only ones.
This statement is false. You are very much above average. Above top 5%. Or, even above Top 2%.
https://finance.yahoo.com/news/rich-her ... 47861.html
"Top 2% wealth: The top 2% of Americans have a net worth of about $2.472 million, aligning closely with the surveyed perception of wealth.
Top 5% wealth: The next tier, the top 5%, has a net worth of around $1.03 million."
So, to have 1 million in the tax deferred account, that means you are above the Top 5%.
KlangFool
A) Only if someone is very lucky over a very long period of time.
B) Is this a safe assumption for a 26 years old person? Aka, you will not be unemployed across multiple recessions over 50 years. And, you will ended up to be the top 5% to 2% of the population in terms of wealth.
C) Or, is it better to assume that the person will be average?
D) My uncle won the lottery 3 times. He does not go around telling everyone that a person can become rich by buying lottery tickets. He knows that he is very lucky. It is not safe to assume everyone can be as lucky as him.
KlangFool
Statistics: Posted by KlangFool — Fri Jul 19, 2024 11:30 am — Replies 43 — Views 3092