I’m wanting to retire early next year at 53, and we are trying to come up with a plan to qualify for ACA subsidy.
I don’t think we will have enough interest and dividends in our taxable account and high interest savings account to get our income above the National poverty level, so we are trying to come up with a way to get our income in the $20k-$30k range in order to qualify for subsidies without having to work a part time job.
If we have around $10k in interest and dividends, can I do a $10k-$15k Roth conversion to make up the difference? Looks like conversions count as income?
Is there anything else we can do to increase our income? I really want to get out of my stressful job and don’t really feel like working anymore.
Many thanks!
I don’t think we will have enough interest and dividends in our taxable account and high interest savings account to get our income above the National poverty level, so we are trying to come up with a way to get our income in the $20k-$30k range in order to qualify for subsidies without having to work a part time job.
If we have around $10k in interest and dividends, can I do a $10k-$15k Roth conversion to make up the difference? Looks like conversions count as income?
Is there anything else we can do to increase our income? I really want to get out of my stressful job and don’t really feel like working anymore.
Many thanks!