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Old 10-27-2019, 03:39 PM   #1
Confused about dryer sheets
Join Date: Oct 2019
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Hi, I'm Owlette (named for my grandson's PJ Mask toy...and my late mother-in-law's love of owls). I am new to the FIRE community, but my husband has been enjoying the site for many years. (this is where he learned about VRBO many years ago)

I retired 9 years ago at 51. My husband and I have pensions, he collects SS. We are both analytical types and we do our own financial models. When we use FIRECALC , we don't know how to get it to handle the taxes that are associated with RMDs. So....I joined and am going to post a question on the FIRECALC forum.
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Old 10-27-2019, 03:59 PM   #2
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Join Date: Apr 2006
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Welcome, Owlette. We're glad you're here. I've posted some ideas on the other thread.
Living an analog life in the Digital Age.
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Old 10-27-2019, 04:03 PM   #3
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Join Date: Dec 2015
Location: Santa Paula
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You can treat it as an expense. I have listed 10 years worth of RMD divisors below. Divide your IRA estimate by the number and then multiply it by your tax rate.
For example:
IRA balance estimate = $1,000,000
RMD at age 70 =$36,496
Tax at 24% bracket = $8759
:IRA balance estimate following year = $1,000,000 -36496 = $963504

RMD at age 71 =$36,359
Tax at 24% bracket = 8726

You do not have to spend the RMD. For years I was just transferring assets from my IRA to a taxable account.

70-27.4 71-26.5 72-25.6 73-24.7 74-23.8 75-22.9 76-22.0 77-21.1 78-20.3 79-19.5 80-18.7
Retired Jan 2009 Have not looked back.
AA 60/35/5 considering SS and pensions a SP annuity
WR 2% with 2SS & 2 Pensions
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Old 10-30-2019, 11:04 AM   #4
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“No, not rich. I am a poor man with money, which is not the same thing"
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Old 11-04-2019, 05:21 PM   #5
Recycles dryer sheets
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Welcome to the site!
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