No. of Recommendations: 2
You should probably consult a fee-only financial adviser. The "fee-only" is important. Don't go with one on commission.
What follows isn't really financial advice, it's just some broad generalities based on your general description.
When you reach 70.5 years, the IRS will expect RMDs to be made, and taxes to be paid on those monies. Combined with any SS and other income (dividends?), that could bump you into another tax bracket (who knows what the brackets will be in 10 years). Also, you may have to worry about IRMAA for Medicare. That starts at age 63 (i.e. they start looking at your income at age 63 to determine your surcharge for Medicare at age 65).
In my case, mom died last year. I inherited what was left of her assets. I had 10 years to distribute the retirement assets, but I'm going to do it in three. I won't be affected by IRMAA because there isn't enough money involved ($206K in our case):
https://www.modwm.com/what-is-irmaa-medicare-incom....
But I still don't want to be bumped into another tax bracket when SS and RMDs both take effect. For me, I'm trying to smooth out the income stream. Most of our retirement money is in our brokerage accounts. Mom's assets are going into cash in bank so we have a few years' living expenses if needed, and won't need to touch investments if the economy goes south (which it does every decade or so). We both have 401Ks, and RMDs will be required. I plan to start withdrawing sooner than that (I'm already 61, so am above the 59.5 age limit). The ROTHs we will leave for last since there are no RMDs, and the withdrawals are tax-free.
