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OT:WMH(NC) (by Wilma [PA]) May 13, 2022 5:14 PM
       OT:WMH(NC) (by WMH [NC]) May 13, 2022 5:43 PM
       OT:WMH(NC) (by Wilma [PA]) May 14, 2022 7:16 AM
       OT:WMH(NC) (by wmh [NC]) May 14, 2022 8:54 AM
       OT:WMH(NC) (by Wilma [PA]) May 14, 2022 9:18 AM
       OT:WMH(NC) (by WMH [NC]) May 14, 2022 1:49 PM

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OT:WMH(NC) (by Wilma [PA]) Posted on: May 13, 2022 5:14 PM

Your comment in yesterday's Social Security discussion was well-timed. We are considering some big traditional IRA to Roth conversions. I had failed to take the income into consideration as it pertains to Medicare. Hubby is on it already, and I begin soon. Thank you for helping us to NOT make a dumb decision! --108.2.xx.xxx

OT:WMH(NC) (by WMH [NC]) Posted on: May 13, 2022 5:43 PM

I'm so glad to be of help! NO ONE told us what would happen with Medicare!!!! --50.82.xxx.xxx

OT:WMH(NC) (by Wilma [PA]) Posted on: May 14, 2022 7:16 AM

While I knew that if you had income from a job, it would affect your Medicare, I didn't know about IRA conversions. Not a single online article that I read while researching that mentioned those conversions.

By the way, I was telling my husband about your rentals from what I've picked up from your posts. We both think that how you focus on year-round rentals in what is usually a vacation rental area is brilliant. I also admire how you use ADUs, and how you are the Queen of fast turnovers.

Thanks again! --108.2.xx.xxx

OT:WMH(NC) (by wmh [NC]) Posted on: May 14, 2022 8:54 AM

I didn't find anything about IRA conversions until AFTER the fact, and only then in some truly obscure article. :( My CPA only looked at it from the tax angle, maybe she didn't even know about the Medicare thing because that's new, apparently.

We stumbled on the year-round idea vs. vacation rental just about our first scouting trip...we quickly discovered the McMansion Rentals bled red ink! We couldn't find a one that actually MADE money for their owners unless they'd owned it 100 years. We also noticed almost no advertisements for annual housing (2003, the paper was still the thing here.) Houses suitable for annual housing were LOTS cheaper and COULD cash flow.

Then stumbled on the ADU thing while reading some minutes of an obscure county meeting from a few years before! Had to drill down on that one, ask a lot of questions from the county clerks who did NOT want to tell us about them. Now we are all good but they did our best to block us in the beginning. --50.82.xxx.xxx

OT:WMH(NC) (by Wilma [PA]) Posted on: May 14, 2022 9:18 AM

If we finally in the fall or next spring take our much-postponed (due to COVID) road trip to FL and back, I want to see the OBX area. Maybe we could buy you two lunch by way of a thank you! --108.2.xx.xxx

OT:WMH(NC) (by WMH [NC]) Posted on: May 14, 2022 1:49 PM

Lunch would be fun! Keep us in mind. --50.82.xxx.xxx

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