My wife and I are both about 63, she is retiring in Nov of this year I plan to keep working and provide medical benefits for a few more years, thats the easy part. We have done fairly well and have saved just shy of 3M. The issue is 2M is tax deferred and I gotta a bad feeling about my tax bill when we turn 75 and our RMD’s kick in. This dilemma might very well require professional help. My thoughts are since I’m planning to move from a high tax state to Florida in retirement I could gain residency first and then do one big Roth conversion and settle my tax bill and be done. Between my pension and SS 100% of our budget is covered. Any advice would be appreciated. The good news is we have 12 years before the RMD phase.
Statistics: Posted by Mr. Potter — Sun Jul 28, 2024 5:33 pm — Replies 25 — Views 2127