SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I'm 50 and doing annual Roth conversions. In another thread somewhere it occurred to me that I may want to do a small SEPP from age 55 to 60.
If I did that, I think the plan would be:
1. Figure out how much I wanted my SEPP amount to be.
2. Figure out which SEPP method I wanted to use.
3. Back into an amount (and maybe an AA) for the initial IRA balance based on steps 1 and 2.
4. Split off the amount in #3 from traditional IRA #1 into a new traditional IRA #2. This would be at Vanguard.
5. Start SEPPs from IRA #2 at age 55.
6. Continue Roth conversions from IRA #1.
7. Stop SEPPs at age 60.
8. Recombine remainder of IRA #2 into IRA #1.
That's more or less right and legal, right?
(The reason for this would be to help draw down my t-IRA more. I would do this both because of the tax torpedo issue and loss of stretch IRA issue.)
If I did that, I think the plan would be:
1. Figure out how much I wanted my SEPP amount to be.
2. Figure out which SEPP method I wanted to use.
3. Back into an amount (and maybe an AA) for the initial IRA balance based on steps 1 and 2.
4. Split off the amount in #3 from traditional IRA #1 into a new traditional IRA #2. This would be at Vanguard.
5. Start SEPPs from IRA #2 at age 55.
6. Continue Roth conversions from IRA #1.
7. Stop SEPPs at age 60.
8. Recombine remainder of IRA #2 into IRA #1.
That's more or less right and legal, right?
(The reason for this would be to help draw down my t-IRA more. I would do this both because of the tax torpedo issue and loss of stretch IRA issue.)