Approaching 59 1/2
L1: Approaching 59 1/2
I retired in 2010 and have been a regular visitor to this web site since then. Fortunately for me, I have had savings and wife’s income to avoid ever having to use a SEPP plan. I will turn 59 1/2 next month, and feel that this website has put me in the top 1% of knowledge for 72(t). Enough knowledge to know not to use it if I didn’t have to use it. Just wanted to issue a quick shout out of thanks to all who maintain and contribute and I won’t hesitate to recommend this site to those who need it. Again, Thanks.
2018-05-16 14:59, By: Captain Whiteheart, IP: [2600:100a:b000:785b:e040:7198:a81d:ee87]
L2: Approaching 59 1/2
You will be entering a phase during which it will be important to do what I call ” PLANNING DURING RETIREMENT”.
This involves the coordination of wife’s income, SOCIAL SECURITY DEFERRAL (to age 70 to get 32% increase over age 66 or 75% increase over age 62), SPOUSAL SOCIAL SECURITY BENEFITS, IRA DISTRIBUTIONS, ROTH IRA CONVERSIONS, Staying in the 12% tax bracket to get Qualified Dividends and Long-Term Capital Gains taxed at -0-%, etc.
Remember to apply for Medicare at age 65, which is before SS at age 66+.
2018-05-16 16:17, By: dlzallestaxes, IP: [22.214.171.124]