Quote:
Originally Posted by leftyf
Of course I have been paying income taxes on all money withdrawn from my IRA, but the tax rate is controlled by how much I withdraw. That's what my accountant is for. He keeps me into the lowest possible tax bracket with smaller withdrawals. I will have my IRA totally depleted before I turn 70 1/2, but my wife will still have quite a bit left in her IRA when she reaches 70 1/2. At least when we reach 70 1/2, we will be in a much lower tax bracket than if we had left all of our money in both IRA's. If you are still young enough, it's worth talking to your accountant about.
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Makes sense. In my situation, I've already been taking monthly payments for living expenses. This year, my RMD is less than what I am already withdrawing. Since the RMD age factor increases by 1 each year, some day I might have to take more than I need.