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Couple Retiring at 64 With $540,000 in IRAs Faces Key Tax Decision

Original: Retire at 64 as a Couple With $540,000 in Two IRAs and Live on Her Pension for Nine Years, and the First Required Withdrawals Come to About $31,600. Converting $40,000 a Year Through Those Nine Years Cuts It Roughly in Half

A retirement plan scenario shows a couple retiring at 64 with $540,000 across two IRAs, living on the wife's pension for nine years until required minimum withdrawals begin at roughly $31,600 annually. Converting $40,000 a year to a Roth during those pension-covered years could cut the eventual required withdrawals roughly in half, reducing future tax bills.

Why now: Retirees approaching age 73 are weighing Roth conversions as a strategy to lower required minimum distributions and taxes.

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• Retire at 64 as a Couple With $540,000 in Two IRAs and Live on Her Pension for Nine Years, and the First Required Withdrawals Come to About $31,600. Converting $40,000 a Year Through Those Nine Years Cuts It Roughly in Half · 24/7 Wall St.

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