Retirement income planning for a secure future.
Eleanor is concerned about outliving her assets while also minimizing estate taxes for her children. She needs a withdrawal strategy from her $1.8M Traditional IRA and $450K taxable accounts that provides sufficient income to maintain her current lifestyle, covers potential long-term care costs, and leaves a meaningful inheritance.
Using the Savings Withdrawal Calculator, we modeled various withdrawal scenarios for Eleanor. We determined a strategy that allows her to withdraw $85,000 annually, adjusted for inflation, while strategically converting portions of her Traditional IRA to a Roth IRA to reduce future required minimum distributions and potential estate tax liabilities. This also allowed her to allocate a portion of her taxable assets for potential long-term care costs.
The Savings Withdrawal Calculator allowed us to quickly iterate through different withdrawal rates, inflation assumptions, and Roth conversion amounts to find the optimal balance for Eleanor's needs. This was coupled with the Tax Equivalent Yield Calculator to help compare investment returns pre- and post-tax.
$65,000 estimated reduction in estate taxes through Roth conversions over 10 years.
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