merlin3942
Recycles dryer sheets
- Joined
- Jun 9, 2014
- Messages
- 67
I now am down to 15 more "get ups" until I RE next month. Somehow, in all my thinking/planning about retirement, I never heard (or paid any attention to) this concept called "QLAC". It came up recently in a conversation with a friend (who RE'd a couple of years ago) in the context of what the best strategy is for reducing the tax hit when RMD's kick in. He is 68, so the RMD issue is closer for him than for me, and he said if he had it to do over, he would have invested the maximum possible in a QLAC when he retired at 60, primarily to reduce the RMD he'll be facing in 2 years.
SO, I've been doing some reading about QLAC, both in some of the threads here, and in various other sites ... and am more confused now than before about how to "calculate" whether it would be a good idea or not.
I've never really liked the whole idea/concept of an annuity, in general ... but I also have a visceral negative response when I think about the tax hit caused by RMDs.
Is there some option in I-ORP that would be able to tell me if that would be a good strategy in my particular situation? Or should I just "bite the bullet", and go find a tax advisor?
SO, I've been doing some reading about QLAC, both in some of the threads here, and in various other sites ... and am more confused now than before about how to "calculate" whether it would be a good idea or not.
I've never really liked the whole idea/concept of an annuity, in general ... but I also have a visceral negative response when I think about the tax hit caused by RMDs.
Is there some option in I-ORP that would be able to tell me if that would be a good strategy in my particular situation? Or should I just "bite the bullet", and go find a tax advisor?