chilkoot
Recycles dryer sheets
For years I ignored the matter of Roth conversions, thinking it would be a lot of bother for not much benefit. Only recently did I take a look using some actual numbers and realized what a difference they could make. I’ve been ER’d ten years now so have a shorter time horizon to work with. Online calculators have given mixed results as to whether they are even worthwhile in my situation. The people here are smarter than I am so I’ll open up the question.
Age 65. Single. No kids. 12% bracket; no state income tax.
401(k) is about 600,000. Taxable account is about 500,000. Cash is about 250,000. Pension is about 18,000. No SS yet, but it will be about 29,000 in another year or so.
No debt; all expenses are easily handled. Health has been very good (now I’ve jinxed myself by saying that).
I realize this is a first world “problem”. I’ve won the game, so this will primarily affect any legacy I leave. But RMDs are looming and the taxes are distasteful to consider.
Let me know if I’m leaving anything out. Many thanks in advance.
Age 65. Single. No kids. 12% bracket; no state income tax.
401(k) is about 600,000. Taxable account is about 500,000. Cash is about 250,000. Pension is about 18,000. No SS yet, but it will be about 29,000 in another year or so.
No debt; all expenses are easily handled. Health has been very good (now I’ve jinxed myself by saying that).
I realize this is a first world “problem”. I’ve won the game, so this will primarily affect any legacy I leave. But RMDs are looming and the taxes are distasteful to consider.
Let me know if I’m leaving anything out. Many thanks in advance.