2014 Corvette

"Jim H" > wrote in message
...
> On 6/12/2011 10:13 PM, uncle_vito wrote:
>> > wrote in message
>> .. .
Snip
>
> I retired early at 56, and I've been retired for 5 years now. Social
> Security is not available at 60 1/2. Early SS is available at 62. It
> is reduced by about 25% at that age. If you are tapping your 401K at
> 59 1/2, you will probably run out of money at some point. If you do
> take money out, you should only take 4% per year. Also, don't forget
> that it is taxed as income. I'm hoping to hold out until I must take
> distributions at 70 1/2.

I've paid no tax since I retired, be careful of your secondary income
and you can get under the wire. I was audited a few years back after I
turned 70 1/2 because I didn't take out enough the first year it was
required, about 4% of your total nest egg. Audit was 2 years late so
it had interest and a fine attached. Tax man talked them out of the
whole thing because of all the errors in IRS's calculations.

The C6 just turned 40K this last weekend, need to drive it more. ;-))

My '92 had over 90K on it in 4 1/2 years, and the most fun was driving
my '04 coast to coast and back in 16 days.

> I love my '93 40th Anniversary Vette. It still drives like new, with
> just over 70K miles, and brand new Goodyear tires. But, I really
> like the C6 also.
>
> --
> Jim