Thanks. My income is very controllable right now and will be at its lowest for 3 years starting in December 2024. Then we have a couple of small pensions, my wife's social security and finally my social security at 70.

The IRMAA is unlikely to hit me but I'm running some calculations. The one thing I'm trying to figure out and might hit us down the road is a possible inheritance from a relative and that coupled with our own RMDs in a decade or so could get us into the IRMAA (one too many "A"s? too tired to look it up). I don't want to count on the inheritance as a certainty since the person could end up needing the money or do something stupid with the money as they get older but I was told by him that two of us would split his IRA 50/50 and just based on his comments it sounded like a decent size so I need to at least consider it partly in my tax planning and not in my spending.

I'm trying to take the inherited money from my father's IRA over the next 3 years and delay his Roth until it has to be removed.

And of course, depending on any tax changes, all this planning could have to be redone.

Retirement Investing FAQ

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