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So... I just retired at 62. I plan to start converting my IRA into my Roth (which I opened decades ago) big-time next year. The top of the 24% bracket is about $165K. So... can I just convert $165K on January 3,2022 and then withdraw from the Roth if needed for living expenses in 2022? I feel like this satisfies the 5-year rule, but I don't want to make a giant mistake.
I know some aim for the top of the 22% bracket, but I feel like I can earn that 2% back by getting better than the 5.5% return used for modeling by my planner, who assumed 50-50 stocks-bonds. I've read some advice that says it's a wash under that assumption. Any opinions on that?
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