View Single Post
Danimal16 Danimal16 is offline
Danimal16's Avatar
Join Date: Feb 2001
Location: I be home in CA
Posts: 6,889
If you have a 401k, and you desire to convert it to an IRA or Roth, you may want to do that prior to turning 70. My brother and I are discussing this. If you take social security during this conversion, which is a strategic conversion you want to keep your income, including SS low so as to avoid a higher tax bracket. Also, your monthly medicare is means tested, and SS income is included in that means testing. I have a couple of three pensions, so this has a tremendous impact on me. As far as a savings rate of 4 or 8% during the strategic conversion and all other factors it may serve me best to hold off on drawing SS until I convert my 401k over the next 3 to 5 years.
Old 07-23-2018, 08:59 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #114 (permalink)