Schwab has an excellent RMD calculator here: https://www.schwab.com/ira/ira-calculators/rmd
Put in your information and then at the bottom, choose make lifetime projection. This puts 6% gains on your assets in pre-tax. Then it gives you year by year RMDs. Note that the number label at the bottom of the graph is off but you can click each year and write down your RMD. Do this again separately for your spouse. With this info, you can build an excel spread sheet and total these for each year. I also calculated the percentage for each year. With this information, I added my own and DW's social security. So you end up with an income. Only the taxable portion of social security is considered for Medicare IRMAA but for me, avoiding this is my goal. I started doing Roth conversions last year when I retired and convert enough so my total income is just below the IRMAA limit. Note that IRMAA looks at 2 years back, so this year's limit is higher than you'll see.
Put in your information and then at the bottom, choose make lifetime projection. This puts 6% gains on your assets in pre-tax. Then it gives you year by year RMDs. Note that the number label at the bottom of the graph is off but you can click each year and write down your RMD. Do this again separately for your spouse. With this info, you can build an excel spread sheet and total these for each year. I also calculated the percentage for each year. With this information, I added my own and DW's social security. So you end up with an income. Only the taxable portion of social security is considered for Medicare IRMAA but for me, avoiding this is my goal. I started doing Roth conversions last year when I retired and convert enough so my total income is just below the IRMAA limit. Note that IRMAA looks at 2 years back, so this year's limit is higher than you'll see.
Statistics: Posted by Jack FFR1846 — Thu Oct 03, 2024 8:04 pm — Replies 23 — Views 883