I'm sure the amounts given are correct but I have $1.3 million in a traditional IRA, at age 76, about $800,000 in Roth and $4 million in a Vanguard brokerage account. I don't need my retirement funds because I have just over $200,000 annual income from pensions and Soc Sec. With mandatory withdrawals from my traditional IRA of around $55,000 I put nearly all of it in Qualified Charitable distributions so I pay little or no income tax on it. I have never seen QCD's addressed in the scenarios given but it would seem to have a great impact on whether to convert any of the traditional IRA to Roth, especially at my age.
MaxiFi handles QCDs and, naturally, reduces optimal Roth conversions when they are specified. Please take a look at this post that discusses MaxiFi's inclusion of QCDs.
I'm sure the amounts given are correct but I have $1.3 million in a traditional IRA, at age 76, about $800,000 in Roth and $4 million in a Vanguard brokerage account. I don't need my retirement funds because I have just over $200,000 annual income from pensions and Soc Sec. With mandatory withdrawals from my traditional IRA of around $55,000 I put nearly all of it in Qualified Charitable distributions so I pay little or no income tax on it. I have never seen QCD's addressed in the scenarios given but it would seem to have a great impact on whether to convert any of the traditional IRA to Roth, especially at my age.
Hi Graten,
MaxiFi handles QCDs and, naturally, reduces optimal Roth conversions when they are specified. Please take a look at this post that discusses MaxiFi's inclusion of QCDs.
My best, Larry
https://larrykotlikoff.substack.com/p/the-cost-of-charitable-giving-via
Thanks Larry. I've followed you since I bought your book on Soc Security about 10 years ago.
And I invite you to read my book, JAGGUY.
Will do!
Larry
True