"Hi Andi, Joe, and Big Al. Long time listener and big fan. Joe you always make me laugh. Important stuff. We are both 63 years old and have both been retired for 6 years. I get a pension of $120k per year but only $42k is taxable We both take our Social Security, me $10k per year and my wife $24k per year for a total $76k taxable per year. SS is only taxed at 85% I believe so actual SS combined would be $30600 yearly for a total of $72k-$73k yearly taxable income. The house and all vehicles are paid off and no other payments except for normal monthly utilities, ins etc. We have combined retirement accts of $1.1 million with $650k in Roth, $450k IRA, and $100k is savings. We have converted $120k per year for the past three years. In the past I’ve paid the taxes from money coming in from a benefit acct but that is almost used up. I can probably convert around $100k for year 2023 which will use up the benefit money. My question is how much should I convert in the coming years now that taxes would have to be paid from my savings acct? At $73k a year after standard deduction est $25k brings us to $48K of taxable income. Should I only convert up to the top of the 12% bracket or go higher. We have 9 years before we have to take RMDs and at that age our tax bracket is pretty low. Should we keep converting, maybe less per year than what we have been doing or stop converting and just pay the tax when collecting RMD. So far we haven’t had a need to pull any money out of the retirement accts for our motorhome trips, vacations, or any other reason. But that might change if we start travelling overseas. I appreciate your input and ideas Thanks"
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