always_learning
Recycles dryer sheets
- Joined
- Feb 2, 2017
- Messages
- 267
This is sort of a spin-off of "Another SS Staff Story" and a post made by Koolau on page 4.
Basically, would you delay taking SS at age 62 in order to maximize 402k/IRA withdrawals up to the 15% tax bracket limit?
Assuming tax brackets remain the same and SS is not needed to meet living expenses, would you delay SS in order to reduce the amount of money in tax-deferred accounts subject to future RMDs?
I'm trying to think through the best option here. On the one hand, moving the tax-deferred amounts into a post-tax account sounds great. On the other hand, having the SS in hand earlier sounds great, too.
Some comments in that thread got me thinking about tax-deferred accounts and survivors, and how their taxes go up after the loss of a spouse. Koolau's post is what got me to thinking about this. Our plan had been for DH to start SS at age 62 and just reduce our 401k withdrawals accordingly to stay in the 15% tax bracket, but now I'm second-guessing that in favor of grabbing as much as we can from the 401K/IRAs before taking SS.
Thoughts?
Basically, would you delay taking SS at age 62 in order to maximize 402k/IRA withdrawals up to the 15% tax bracket limit?
Assuming tax brackets remain the same and SS is not needed to meet living expenses, would you delay SS in order to reduce the amount of money in tax-deferred accounts subject to future RMDs?
I'm trying to think through the best option here. On the one hand, moving the tax-deferred amounts into a post-tax account sounds great. On the other hand, having the SS in hand earlier sounds great, too.
Some comments in that thread got me thinking about tax-deferred accounts and survivors, and how their taxes go up after the loss of a spouse. Koolau's post is what got me to thinking about this. Our plan had been for DH to start SS at age 62 and just reduce our 401k withdrawals accordingly to stay in the 15% tax bracket, but now I'm second-guessing that in favor of grabbing as much as we can from the 401K/IRAs before taking SS.
Thoughts?