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RMD, SS, and Medicare

#11
Shiny & norabird Excellent points!

Remember to make that conversion BEFORE RMDs start because 1) none of the RMD can be converted into a ROTH but you can use the funds to pay any taxes for converting amounts over the RMD into the ROTH and 2) the charitable deduction direct from an IRA requires you to be 70 years of age.
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#12
I have read some of these answers and I'm only 63 so not well informed. But most of my friends are. And yes it's true that premiums for Medicare, and Part B and D are determined by income. They aren't penalizing you for age, but indexing premiums to income.

In my opinion the government thieves in Congress will also start indexing SS benefits based on income in the next few years. Politicians, no matter what stripe they are, will screw us to the wall. It's just a matter of time.
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#13
(12-18-2018, 11:19 AM)DaMa Wrote: I have read some of these answers and I'm only 63 so not well informed. But most of my friends are. And yes it's true that premiums for Medicare, and Part B and D are determined by income. They aren't penalizing you for age, but indexing premiums to income.

In my opinion the government thieves in Congress will also start indexing SS benefits based on income in the next few years. Politicians, no matter what stripe they are, will screw us to the wall. It's just a matter of time.

Actually, they are just giving high earners less of a Medicare B and D  subsidy.  Somebody has to pay for the high premiums. I note that some people who are against ACA subsidies(some are friends and relatives), also take the other side when it comes to Medicare.
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#14
I've been deducting a reduction of SS benefits by 25% in the Fidelity planner for the past 5 years .... I will start doing IRA to Roth conversions for 2 years i have before RMDs kick in. Looking forward to retiring at the end of the year. woo-hoo :-)
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