elgob.bogle wrote:I posted a ROTH conversion scenario in the Personal Section recently (topic=105706). My plan takes advantage of the fact that my spouse plans to work until I am 70, at which time she will be 63. This will allow me to utilize her Medical coverage family plan and delay signing up for Medicare Parts B & D. Conversions will occur beginning in 1.5 years at my ages 66, 67 & 68 after which we will have the two-year window needed to get back down to a lower MAGI. Upon reaching age 70.5, I will sign up for both Social Security and Medicare Parts B & D. Apparently, there are no tax consequences as a result of signing up for only Medicare Part A at age 65. Please LMK if I am missing anything. Thanks.
I have already executed the Roth plan that you suggest. Worked fine and I will also wait till 70 for SS. This made an agressive improvement in balancing my income over the years via reduced RMD payments and spreading SS out. I also made a large Charatible contribution one year and used that deduction to offset the conversion tax for that year.
Also in the 25% bracket and manage my income every year to control both B and D taxes
Question: What is significance of 70.5 vs 70?