MFJ, At 72 (I'm 67 now) we expect about $65k in SS, $15k in dividends and interest, and assuming 4% growth over the next 4 years, $52k in RMDs for a total income of $142k. I may be able to reduce the RMDs some over the next 2 years with Roth Conversions, before we take SS. But if the market does even OK, I'll may just stay at about the same level.
If we stay in the 12% bracket, I can convert around $40k each year, If I jump to the 22% it is closer to $135k. But IF, the brackets and rate stay the same I would go about $37k in to the 22% at 72 with RMDs.
Should I continue converting at $40k or jump to $135k, (22% bracket).
Asking for a [-]friend[/-] my kids.
If we stay in the 12% bracket, I can convert around $40k each year, If I jump to the 22% it is closer to $135k. But IF, the brackets and rate stay the same I would go about $37k in to the 22% at 72 with RMDs.
Should I continue converting at $40k or jump to $135k, (22% bracket).
Asking for a [-]friend[/-] my kids.