There are a number of calculators you can use to get good, more exact estimates.
With 1.9m in IRAs I would be moving some of that to a Roth prior to adding a second SS income stream, and later RMD's.
I would ballpark an estimate that puts your taxable income in the low to middle 22% bracket - aim for a taxable income of $125,000 to $150,000. That would keep your Modified Adjusted Gross Income below the $206,000 IRMAA threshold.
Do a quick estimate of what bracket you would be in today if both were drawing SS benefits, and then another if you were taking a 4% RMD. Of course these numbers change over time which is why the use of a Roth conversion calculator is helpful. I use the Retiree Portfolio Model calculator myself.
With 1.9m in IRAs I would be moving some of that to a Roth prior to adding a second SS income stream, and later RMD's.
I would ballpark an estimate that puts your taxable income in the low to middle 22% bracket - aim for a taxable income of $125,000 to $150,000. That would keep your Modified Adjusted Gross Income below the $206,000 IRMAA threshold.
Do a quick estimate of what bracket you would be in today if both were drawing SS benefits, and then another if you were taking a 4% RMD. Of course these numbers change over time which is why the use of a Roth conversion calculator is helpful. I use the Retiree Portfolio Model calculator myself.
Statistics: Posted by Peter Foley — Tue Jun 18, 2024 7:29 pm