Do you have a pension...

[FaC]

https://www.democraticunderground.com/100213010633

underpants (146,963 posts)


Do you have a pension?
A professionally managed (not you) pension? You or anyone in your house? Not a 401K.

(poll not copied)

There is a fair amount of both bragging and poor mouthing but I wanted to preserve this little gem...

DFW (35,992 posts)

23. I don't. My wife does

I still work, She doesn't. She draws a taxable monthly pension of a whopping €850 a month. We'll both be 68 this year. At least she is on the mostly good German version of medicare. I am on American BSBC, which is to say, virtually nothing at all. I have an American Roth IRA for which I paid the taxes up front and in full over ten years ago. In the States, what's in there should be all mine, but the Germans want 50%, and if both governments take out a total of 89.6%, that leave me little left. The Double Taxation Treaty was written before the Roth IRA became law, so the Germans pretend there is no such thing. Heil Honecker.

Let's just say, it's a good thing I'm still working.

I don't understand - this is almost like our friend DFW is unhappy with what various governments are claiming as their own. I thought that any government could manage our resources better than we could. DFW must think that rule should apply to others, not someone of his political leaning...

[Texacon]

 


That's awesome! 

KC

[USA4ME]

If what this idiot says is true, why report it to the German revenue office? Once the time for the Roth comes (starting at age 59.5 depending on if you’ve had it more than 5 years) then keep the withdrawn money in an American bank, get a credit card in the USA, use it to purchase items in Europe, pay off the card online via your American bank account. Germany would never know.

But Marc has been complaining about his taxes in Germany and the USA for a while now.

.

[zeitgeist]

Yep, that's a bell ringer all right.  Bet DFW would like a mulligan on that one.   The analysis is spot on and couldn't happen to a bigger braggart. 

[Texacon]

Marc likes living in Germany and bragging about it, but I guess he doesn't want to help PAY for it.  Wonder why that is?  Taxes are good Marc, remember?

KC