ORP treats all 3 accounts (IRA, Roth, taxable) as liquid but with only 3 options for moving money between accounts:
- IRA to Roth Conversions
- IRA to taxable distributions
- Roth to taxable distributions (never done because there is no economic benefit).
All other permutations will bring a nasty-gram from the IRS. 2 of the 3 cases have tax consequences that affect optimization.
Generally speaking ORP does not distinguish between stocks and bonds for distributions. Generally but not always, ORP will distribute from the account with the lowest rate of return first, it doesn't matter what is in the account. So ORP will hang on to the Regan Era bonds in your taxable account paying 18% interest and distribute the Apple stock in your IRA first.
My preferred "solution" is to maintain the same asset allocation in all three accounts so that the distribution decisions are made more on tax economics and less on chasing yield. There are reasons for doing asset allocations in the three accounts differently but they are outside ORP's scope. It is the job of the analyst or advisor to manage the interface between ORP's model and the real world. i.e. your situation.
ORP offers a glide path option that let's you change asset allocations over retirement.
A retirement calculator that tightly controls asset allocations using rules other than economics is a simulator, not an optimizer. Its function can be performed much more simply with a spreadsheet.
This is the 2nd time that QCDs have come up, qualifying them for membership on ORP's wish list.
ORP considers Medicare Income Related Monthly Adjustment Amount to be on the expense side of the ledger having no impact on ORP's retirement income management. I refer you to ORP's FAQ.