I'm 63 and just retired 2 months ago. Yea me! For the remainder of 2023 we'll live off of our brokerage account funds. For 2024+, I wanted to stay in the 12% bracket (filing jointly) so I planned to pull from my IRA for our living expenses and make minimal use of the brokerage account to supplement as needed. I have no Roth account.
An alternative that was suggested by an advisor I was interviewing, was to pull all living expenses from the brokerage account and do Roth conversions to fill the 12% bracket.
If I pull all living expenses from the brokerage account, I have about 3 years of funds available before I would need funds from IRA/Roth. I do like having a good size brokerage for what if scenarios where large funds are needed. Perhaps I'll get a wild burr to buy an RV.
Any thoughts on the two directions.
An alternative that was suggested by an advisor I was interviewing, was to pull all living expenses from the brokerage account and do Roth conversions to fill the 12% bracket.
If I pull all living expenses from the brokerage account, I have about 3 years of funds available before I would need funds from IRA/Roth. I do like having a good size brokerage for what if scenarios where large funds are needed. Perhaps I'll get a wild burr to buy an RV.
Any thoughts on the two directions.