Folks,
I need the benefit of some of your collective wisdom and experience. I've been contemplating an IRA to Roth IRA conversion. Will likely retire at 50 - 55 in 10 - 15 years, will likely take a 72t distribution on my traditonal IRA if not converted, and currently at the 25 - 28% tax bracket. Ran the numbers in some conversion calculators with several current and future tax brackets and it is break even at best even without the 72t distribution.
Wouldn't the 72t make it even less desirable? Say $35K distribution for 55, 56, 57, 58, 59.... keeping me in low tax brackets since my pension and SS will not figure in until 60 and 62.
What am I missing?
Elroy
I need the benefit of some of your collective wisdom and experience. I've been contemplating an IRA to Roth IRA conversion. Will likely retire at 50 - 55 in 10 - 15 years, will likely take a 72t distribution on my traditonal IRA if not converted, and currently at the 25 - 28% tax bracket. Ran the numbers in some conversion calculators with several current and future tax brackets and it is break even at best even without the 72t distribution.
Wouldn't the 72t make it even less desirable? Say $35K distribution for 55, 56, 57, 58, 59.... keeping me in low tax brackets since my pension and SS will not figure in until 60 and 62.
What am I missing?
Elroy