In your traditional IRA (tIRA), try to store low performing assets (bond funds) there in order to subdue its long term growth, since that will reduce your future taxes on your upcoming annual Required Minimum Distributions (RMDs) from that IRA category.
Your future RMDs are also the reason to look into doing Roth conversions from that account, even though those conversions into your Roth IRA (RIRA) are taxable withdrawals from the tIRA. Now there are calculators to suggest the annual amounts to convert. I just annually converted to the top of my current tax bracket each year from 2006 to 2019. For you, there is not time for large enough conversion amounts to help before you start your RMDs. If you don't do your own taxes, ask your tax person for annual Roth conversion amounts.
For marital and medical reasons, I'm a client at Evanson Asset Management (EAM). They charge a fixed (but not cheap) fee for their services. On their "Fees and Services" page, at the bottom, they list specific books by Wm. Bernstein, Jack Bogle, and Larry Swedroe as recommended reading for EAM clients.
Your future RMDs are also the reason to look into doing Roth conversions from that account, even though those conversions into your Roth IRA (RIRA) are taxable withdrawals from the tIRA. Now there are calculators to suggest the annual amounts to convert. I just annually converted to the top of my current tax bracket each year from 2006 to 2019. For you, there is not time for large enough conversion amounts to help before you start your RMDs. If you don't do your own taxes, ask your tax person for annual Roth conversion amounts.
For marital and medical reasons, I'm a client at Evanson Asset Management (EAM). They charge a fixed (but not cheap) fee for their services. On their "Fees and Services" page, at the bottom, they list specific books by Wm. Bernstein, Jack Bogle, and Larry Swedroe as recommended reading for EAM clients.
Statistics: Posted by heyyou — Mon Mar 11, 2024 10:46 pm