Personal Investments • Help with retirement money investments

Hi Folks,

I retired in April and I am starting to think about the next 15 years.

Details:

56 years old.
Married.
I will pay 37% fed and about 5% state taxes this year.
Maxed my retirement and HSA this year
Sitting on about 3 years of cash currently in a high yield MM fund. (~5% or so yield)
I have a pretty good understanding of my expenses and in the event of SORR scenarios I can easily cut by 50%.
Will claim social security when it makes sense. Same with Wife.

Have about $3M in pre-tax IRAs all invested in (VOO) or (VTI)- S&P 500 index fund or Total Market index fund respectively.

I will make about $130K next year due to deferred compensation and I anticipate another $50K in dividends and interest. After that I anticipate about $50-$60K a year in div and interest.

QUESTIONS:
1. Should I plan to move money into a roth IRA between now and RMDs?
2. What specific steps should I take to move pre-tax money into a Roth?
3. Should I wait until 59.5 or should I consider a 72T distro? (currently 56)?
4. What would you folks do to minimize the tax burden and maximize growth?

Thanks in advance!
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Bampf

Statistics: Posted by bampf — Fri May 24, 2024 2:31 pm — Replies 4 — Views 204

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