Your traditional balance is not particularly large. Retire at 62 and don't take SS. Live off your traditional balances, maybe even performing some Roth conversions for a few years before you draw SS.Hello all, I am looking for guidance on if I should do a conversation of my traditional 401k to a Roth 401k , or perhaps just elect all future contributions to be a Roth, and possibly convert my future traditional rollover to a Roth.
We're 57, plan on working til 62
we have 500k in my 401k
her roth 401k 40k
our income is 150k, and we would receive about 50k a year in SS at 62, which covers are expenses.
I am doing research on this right now and wanted to ask here for advice. I plugged my hypothetical portfolio balance into Schwab's RMD calculator with a 1 million account , and the RMDs are essentially 100k at 73, and I want to avoid them, or at least minimize the taxes beforehand the best way possible.
Statistics: Posted by sailaway — Thu Jul 25, 2024 8:44 am