Quote:
Originally Posted by MplsPete
Is this beneficial?
For example, if the OP has, say, 3 million in various retirement accounts (not terribly unlikely) won't he eventually have to cash out 300k per year for RMD and pay the taxman?
(Asking more for me than thee.)
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Have a 59k RMD this year so that will likely play in. Not sure how closely the IRS watches which quarter you pay taxes in. If I take the RMD in second quarter but pay taxes in the 4th quarter, do they really care? Bridge loan is last resort. We have equity positions with a lot of capital gains that could be sold and used in our Taxable account, or we could start using Roth funds. Trying to make the most of the Roths. Expecting to get 450 to 499 from existing home and moving into 710k Home. Need to fund the 710K at closing. Existing home will be on the market before closing on the new home. Tax avoidance as the saying goes. Not evasion. Want to avoid getting income to a point were Medicare costs more too.
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Terry
Always be humble and kind.