is there a blog post or can someone comment on the following issues, which i may have (read probably) misunderstood
one option after retirement to cover expenses is to draw off roth ira. this is done in part to help keep tax burden lower. at some point we may be lucky enough to reach age 70 and have rmd's kick in from retirement accounts and we can lay off roth ira's if sufficient funds are generated.
however, many of us plan to leave significant inheritances to kids. it seems like roth ira is a powerful tool for transmitting wealth generationally. that makes me less inclined to tap into roth ira to keep taxes down and continue to let the rules for roth ira and time and compound interest leave a larger legacy. or is that stupid? i realize these are first world problems. i'm just looking for smarter and more experienced people who have already thought this through.
i did read POF post on taxman leaveth. fascinating. my accountant assures me it is impossible for me to achieve that kind of tax efficiency due to desire to keep working and pensions and stuff. yes i realize it's a good problem to have.
one option after retirement to cover expenses is to draw off roth ira. this is done in part to help keep tax burden lower. at some point we may be lucky enough to reach age 70 and have rmd's kick in from retirement accounts and we can lay off roth ira's if sufficient funds are generated.
however, many of us plan to leave significant inheritances to kids. it seems like roth ira is a powerful tool for transmitting wealth generationally. that makes me less inclined to tap into roth ira to keep taxes down and continue to let the rules for roth ira and time and compound interest leave a larger legacy. or is that stupid? i realize these are first world problems. i'm just looking for smarter and more experienced people who have already thought this through.
i did read POF post on taxman leaveth. fascinating. my accountant assures me it is impossible for me to achieve that kind of tax efficiency due to desire to keep working and pensions and stuff. yes i realize it's a good problem to have.
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