How does this year's (2024) income look? Maybe you should do Roth conversions to the top of the 24% bracket so that you have another tax free source to tap in the next couple of years. (If you won't be 59.5 by then, you'd need to convert wife's TIRA. Also remember to include what this would do to her IRMAA in 2026).Close to all (> 98%) of our retirement savings are in tIRAs; this is an important point as every dollar we pull out to fund our living expenses generates taxable income and increases our AGI. We expect to need about $205K in expenses for 2025 plus whatever we own in federal tax. (We live in FL so no state income tax concerns) We additionally have about $60K in HSA savings and these funds are the basis of my question below.
eg. you could pay 24% now to save 30.5% next year.
Statistics: Posted by bongo — Sat Oct 26, 2024 10:52 pm — Replies 7 — Views 483