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Reply to "Anyone else dealing with this issue of "gap years" before retirement? "
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[quote=Anonymous]Early retired law firm partner here. Just a reminder not to make Roth conversions in a vacuum. Depending on your personal situation, they can cost you more than you realize, especially once you're 65. For example, if you're 65 in DC, move money from an IRA to a Roth, and your income exceeds $165k for the year as a result, you lose the 50 percent senior citizen discount on your property tax. Some may scoff at that, but for many that's close to $10,000 a year. You also risk exceeding the income caps for the lowest tier of Medicare premiums, and your monthly payments will go up pretty steeply. Finally, you lose the zero percent tax bracket for capital gains on your brokerage account. In the end Roth conversations more often than not will make sense. But not always. Doing the math is not just a matter of looking at income tax brackets. [/quote]
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