The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools


Subject:  Re: More MAGI & Medicare Date:  11/29/2012  1:37 PM
Author:  pauleckler Number:  18091 of 20640

Heck, I pay in the neighborhood of $200+ a month for Part B Medicare every year since I started taking RMD.

Yep, the extra Medicare cost is yet another aspect of Required Minimum Distributions from your IRA beginning at age 70-1/2.

That's a reminder that doing a Roth conversion on your IRA if you have low tax years is a good deal. But of course coughing up an extra $20K or more in income taxes to convert a large IRA is hard to take. But they will probably get you for more in income taxes on RMDs.

Another thought is that if you do not have long term care insurance, I hear nursing home is a deductible medical expense. Hence, paying your nursing home fees out of your IRA effectively gets you a 30+% discount (on reduced fed and state income taxes).
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us