Personal Finance (Not Investing) • Re: Can't have enough Roth?

There's no rule that works for everyone. For me I'd say about $2M deferred per person in 2024 dollars is about as much as I'd want to enter retirement with.

I look at the following factors:
a) How many years of LTC do I wish to self-insure for? The medical deduction can make the tIRA distributions tax free, meaning any taxes paid to Roth convert could be wasted.
b) How much do I wish to leave to charity? Again, the deductions can make the distributions tax free.

When you said "per person," does that mean that it would be $4M for married couple?

I wonder about the LTC angle. Wouldn't those expenses be most likely to occur in very late life when RMDs have already forced significant depletion of the account? I know we can't predict the timing of health issues / demise, but just playing the odds. Plus I'm an optimist.

In a VHCOL area, not sure I'd have enough left in the tIRA to make a meaningful dent in LTC.

Statistics: Posted by Circle the Wagons — Sun May 26, 2024 8:57 pm

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