I turn 73 next year, so I will start taking a Required Minimum Distribution in 2025 (I don’t want to take 2 RMDs in 2026). I’m already in the top tax bracket, so my tax rates are set. My wife is 71, so only one year behind me. Our two children are 46 and 45.
I’ve used the online calculators, and it seems relatively straightforward. The only tax minimization approach I see is the yearly $100K charity distribution. I retired from an accounting firm which will provide me guidance next year.
So, any experiences you can share on what to do with the money?
I’ve used the online calculators, and it seems relatively straightforward. The only tax minimization approach I see is the yearly $100K charity distribution. I retired from an accounting firm which will provide me guidance next year.
So, any experiences you can share on what to do with the money?
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