disneysteve
Thinks s/he gets paid by the post
- Joined
- Feb 10, 2021
- Messages
- 2,416
Now that retirement is imminent (June), I really need to figure out how to approach the withdrawal stage of investing after decades of accumulation. We have taxable stocks and funds, traditional IRAs, Roth IRAs, a 401k, an inherited traditional and Roth IRA, series I bonds, CDs, Treasuries, and cash accounts. Lots of moving parts and options regarding where to draw from and how to manage and balance taxable income and capital gains so I'm not quite sure where to start.
The easy stuff is to spend interest, dividends, and capital gains from our taxable holdings since those are taxed each year anyway. I'm also taking RMDs from the inherited IRAs. But then what? How do I decide where to draw from next to meet our spending needs? We are on an ACA plan so need to manage our MAGI with the subsidy in mind. My wife is 60 and I'm 59 so we're 5-6 years from Medicare. We also plan to delay SS as long as we can. I think our portfolio will support us nicely until 70.
Despite everything I've read, I'm still kind of lost as to how best to approach this. Any advice or links to articles or calculators or other helpful info would be appreciated.
The easy stuff is to spend interest, dividends, and capital gains from our taxable holdings since those are taxed each year anyway. I'm also taking RMDs from the inherited IRAs. But then what? How do I decide where to draw from next to meet our spending needs? We are on an ACA plan so need to manage our MAGI with the subsidy in mind. My wife is 60 and I'm 59 so we're 5-6 years from Medicare. We also plan to delay SS as long as we can. I think our portfolio will support us nicely until 70.
Despite everything I've read, I'm still kind of lost as to how best to approach this. Any advice or links to articles or calculators or other helpful info would be appreciated.
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