Category Archives: Retirement,Social Security,Taxes

I’m 59 With $1.3 Million in a 401(k). Should I Convert $130,000 Per Year to a Roth to Avoid RMDs?

Converting a 401(k) into a Roth IRA can be appealing for several reasons. Not only can you make qualified withdrawals from Roth accounts tax-free, but Roth accounts are also exempt from required minimum distributions (RMDs.) That can give you more

We’re 66 With $1.4 Million in IRAs, and $4,100 Monthly From Social Security. What’s Our Retirement Budget?

Say that, as a married couple, you have $1.4 million in your IRAs and, at age 66, expect about $4,100 per month in Social Security. Based on some typical rules of thumb, you might be able to plan on about

You May Be Paying Too Much in Taxes on Your Social Security Benefits. Here’s How to Lower Them

Millions of Americans rely on Social Security benefits for all, or a portion, of their retirement income. Up to 85% of Social Security benefits are subject to federal income tax, depending on your total household income. However, Fidelity recently presented