SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hi all,
I did a simple i-orp run with my numbers the other day. I am 50, will take SS at 70, and have roughly 67% tIRA, 20% Roth, 13% taxable.
I understand (a little) about linear programming and constraint optimization. But I started taking a look at the plan it spit out and wish it could explain why it made certain choices.
The first hurdle for me is that the plan recommends I start taking over a year's worth of spendable income out of my t-IRA and pay the 10% early withdrawal penalty. It recommends doing this for the next five years or so, then dropping to about half of that amount for the next 4 years until I reach 59.5.
My current actual plan is to spend down some of my taxable until 59.5 and do Roth conversions up to a certain level to minimize the tax torpedo.
Any insight on why i-orp would recommend this? It seems like a pedestrian question and that I shouldn't bother the i-orp guy.
I'm uncomfortable sharing my plan results because it contains my actual numbers. If my question can't be answered without that info, I understand and apologize in advance.
As a secondary question, for those of you who trust or rely on i-orp, how do you know that he programmed it correctly? I was very good at math and actually took a linear programming class in college. I did well but I still made mistakes (got a B in the class IIRC). It seems like i-orp is a big black box with no reasonable way to ensure it's correct.
I did a simple i-orp run with my numbers the other day. I am 50, will take SS at 70, and have roughly 67% tIRA, 20% Roth, 13% taxable.
I understand (a little) about linear programming and constraint optimization. But I started taking a look at the plan it spit out and wish it could explain why it made certain choices.
The first hurdle for me is that the plan recommends I start taking over a year's worth of spendable income out of my t-IRA and pay the 10% early withdrawal penalty. It recommends doing this for the next five years or so, then dropping to about half of that amount for the next 4 years until I reach 59.5.
My current actual plan is to spend down some of my taxable until 59.5 and do Roth conversions up to a certain level to minimize the tax torpedo.
Any insight on why i-orp would recommend this? It seems like a pedestrian question and that I shouldn't bother the i-orp guy.
I'm uncomfortable sharing my plan results because it contains my actual numbers. If my question can't be answered without that info, I understand and apologize in advance.
As a secondary question, for those of you who trust or rely on i-orp, how do you know that he programmed it correctly? I was very good at math and actually took a linear programming class in college. I did well but I still made mistakes (got a B in the class IIRC). It seems like i-orp is a big black box with no reasonable way to ensure it's correct.
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