Business & Economy · 2 views
They Retired at 62 With $650,000 Between Two IRAs and Lived on His Pension for 11 Years. At 73 Their First RMDs Came to $42,000, on Top of the Pension
Leaving $650,000 in IRAs untouched for 11 years grew the balance to $1.11 million, forcing a $42,000 first-year RMD on top of pension income.
Summary
Leaving $650,000 in IRAs untouched for 11 years grew the balance to $1.11 million, forcing a $42,000 first-year RMD on top of pension income. The couple missed 11 years of Roth conversion opportunities at the 12% rate, pushing RMD dollars into the 22% bracket instead.
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