Reply to Spouse’s RMD- should I quit my job?

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[quote=Anonymous][quote=Anonymous]My husband is some years older than me and has to start taking RMD’s this year which will increase our gross income by roughly $6000/ month.

I have a standard WFH job and earn ~ 100,000/ year. Benefits are covered through  spouses former employer(fed) We were never high earners per DCUM standards but are content with our lifestyle.

I have already had $31,000 taken out this year for my 401k.

Our taxes are going to go up significantly due to the RMD’s and we are paying quarterly taxes.

It makes sense to quit, just wondering if I am missing something in the big picture?

Thanks for any advice or feedback! [/quote]

You are letting the tax tail wag the income dog. If you hate the job, quit. If not consider other tax saving options:
- 401K: I thought catch up contributions are scheduled to go up for people over 60 (assuming you are). Look into that. 
- HDHP for medical insurance: Signing up for a HDHP will allow you to contribute to a HSA. More tax deduction.
- Does your job have a deferred compensation plan that might apply to you? If it does, sign up and defer taxes for years.
- If you live in a state that taxes income, consider moving to a no-tax state.[/quote]

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