Affable at 50-
I should have converted to Roth at earlier age, but was working hard on saving, paying debt, and selling rental property. I did accomplish paying debt off and avoiding as much tax as possible by minimizing income when selling rental property. I had $100k or so in Vanguard cash/settlement fund. I've converted $110k in tax year 2023. I can convert close to $80k in '24 hen the following year $60k before both of us on Social Security. This should bring IRA down to $250k. We plan on pulling QCDs out of the IRA, but would like to spend some of it at a lower than 22% cost.
I should have converted to Roth at earlier age, but was working hard on saving, paying debt, and selling rental property. I did accomplish paying debt off and avoiding as much tax as possible by minimizing income when selling rental property. I had $100k or so in Vanguard cash/settlement fund. I've converted $110k in tax year 2023. I can convert close to $80k in '24 hen the following year $60k before both of us on Social Security. This should bring IRA down to $250k. We plan on pulling QCDs out of the IRA, but would like to spend some of it at a lower than 22% cost.
Statistics: Posted by flee — Sat Jun 29, 2024 5:30 am — Replies 12 — Views 674