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Why a 62-Year-Old Couple With $1.4 Million Is Paying the IRS Early on Purpose
The strategy uses low-income years before Medicare and Social Security to convert up to $64,575 annually at 12% or less, planners said.
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2 Articles
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BizTocTwo Couples Retire at 62 With $600,000 Each in IRAs. One Lives on a Pension and Leaves the IRAs Alone. The Other Converts $45,000 a Year at 12%. At 73, One Faces a $39,000 RMD and the Other $15,000
Two couples retire at 62 with identical IRA balances, but by the time the IRS sends its first required minimum distribution notice at 73, one household owes more than twice what the other does, and the gap traces back to a decision most retirees never think to make.
·Lakewood, United States
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Total News Sources2
Leaning Left0Leaning Right0Center1Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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