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re: Income Tax in Retirement Questions
Posted on 5/26/16 at 11:24 pm to baldona
Posted on 5/26/16 at 11:24 pm to baldona
quote:
If I need $75,000 a year to live would I not just eat up my Roth first and let my 401k keep growing since that's the most tax efficient?
Because you are going to want to eat up the fund that you will have to pay taxes on one way or another to spare the one that is tax free.
I don't see how you consider killing your tax free growth to be "tax efficient."
1
Posted on 5/27/16 at 8:30 am to Volvagia
quote:
Because you are going to want to eat up the fund that you will have to pay taxes on one way or another to spare the one that is tax free. I don't see how you consider killing your tax free growth to be "tax efficient."
I obviously don't have a good grip on retirement taxes but I wanna say 'seriously' to this?
Let's say I have an equal amount in my Roth which is withdrawn tax free and my 401k which is withdrawn with taxes. At 59.5 it seems best to withdraw entirely from my Roth and not touch my 401k to delay paying taxes. Why pay taxes at 59 when I can wait to pay them at say 70? Then if I pass away and pass it on my kids can delay the taxes additionally?
The benefit of a tax free account is not paying taxes, if I never put that to use then there is no inherent benefit at all.
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