Most people spend decades building a traditional IRA or 401(k). A portion of that money is often still owed in income tax when it is withdrawn. Required minimum distributions generally begin at age 73, so withdrawals can start even in a year you do not need the income. For many households with $500,000 or more in these accounts, those withdrawals can push income into a higher tax bracket, raise Medicare premiums, and leave a surviving spouse with a larger tax bill.
This is a private 15-minute conversation with Peter Mitroff, founder of Stoney Creek Advisors and a fiduciary wealth manager.
The purpose is simple: to determine whether your current retirement plan has a hidden blind spot and whether a more detailed analysis would be of value to you. There is no cost and no obligation.