The other thing to consider when doing Roth conversions is the IRMAA (the amount you pay for medicare) surcharge if your income is above certain levels 2 years prior. So if you turn 65 in 2 years from now, they look at your MAGI and that determines how much you will pay for medicare for that year. That can add up for a couple.

We both turn 65 in 2027. I'm contemplating taking a large tax hit this year to fill up the 15%, 22% and 24% tax brackets to reduce the possibilities of dealing with the IRMAA and other tax issues down the road when we are required to do RMDs. Another factor for us is a likely inheritance (IRA tax deferred, not Roth) from a relative (non-parent). I try not to consider that in my spending but I need to consider it in terms of tax issues down the road. That could be a decent amount and that would also have to be distributed within 10 years and could cause us tax problems.

Further complicating the issue is that we don't know what will have to the tax brackets/deductions since they are supposed to revert to old (higher) levels in 2026.

I usually try to hedge my bets and if I get a windfall then paying taxes isn't the worst thing but if you can reduce it a bit, it wouldn't hurt.

Currently my money is roughly:
Regular: 26%
Roth : 13%
tax deferred: 60%

Without the inheritance and barring significant tax changes we should be ok although when one of us passes away that will change things. I also have to convert more of my inheritance from my father this year and next while our income is low (no social security, no RMDs, only 1 pension at this time).

This is complicated enough when you know all of the numbers but becomes tougher when you don't know what the numbers will be.

Rich