street
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- Joined
- Nov 30, 2016
- Messages
- 9,614
Many now in retirement years have been in the 401K plan and have a large number to retire too. There has been a few threads on this.
Is having to much tax deferred retirement money a problem you see. In my case if I wait to take money from those accounts at RMD time they could double easily in 12 to 14 years. I have run the numbers and in my case if I start taking money from those accounts now I lose in many other ways with having the extra income (ACA) for example.
I will not avoid even if I start now taking from those accounts and staying under the guide lines (HCI) for being in the higher tax bracket at RMD time.
So in my case would it be better to just wait and take RMD when I'm required to do so or start now. The thing is I don't need the money and would like it to grow for other reasons. I also would like to do the best for tax purposes but I can't avoid the higher tax bracket any way.
Is having to much tax deferred retirement money a problem you see. In my case if I wait to take money from those accounts at RMD time they could double easily in 12 to 14 years. I have run the numbers and in my case if I start taking money from those accounts now I lose in many other ways with having the extra income (ACA) for example.
I will not avoid even if I start now taking from those accounts and staying under the guide lines (HCI) for being in the higher tax bracket at RMD time.
So in my case would it be better to just wait and take RMD when I'm required to do so or start now. The thing is I don't need the money and would like it to grow for other reasons. I also would like to do the best for tax purposes but I can't avoid the higher tax bracket any way.