Deferring the first RMD to April 1 stacks two distributions into one tax year, potentially adding $70,000 onto existing retirement income for a $900,000 IRA holder.
IRMAA's two-year lookback locks 2028 Medicare premiums to 2026 income, and tax-exempt municipal bond interest counts toward MAGI with no correction after filing.
Crossing the first IRMAA tier costs a couple roughly $2,300 more per year; the second tier pushes the household Medicare bill to nearly $6,000.
Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite. The SEC legally requires them to put your interests first. Advisor.com's free matching tool pairs you with vetted fiduciaries from major national firms, all in under three minutes. See who you match with today.
A retiree who turns 73 this year has a deceptively simple decision: take the first required minimum distribution by December 31, or use the one-time option to delay it until April 1 of the following year. The delay can look harmless. But it may put two RMDs into one tax year, push modified adjusted gross income across an IRMAA bracket, and raise Medicare premiums two years later.
IRMAA's two-year lookback locks 2028 Medicare premiums to 2026 income, and tax-exempt municipal bond interest counts toward MAGI with no correction after filing.
Crossing the first IRMAA tier costs a couple roughly $2,300 more per year; the second tier pushes the household Medicare bill to nearly $6,000.
Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite. The SEC legally requires them to put your interests first. Advisor.com's free matching tool pairs you with vetted fiduciaries from major national firms, all in under three minutes. See who you match with today.
A retiree who turns 73 this year has a deceptively simple decision: take the first required minimum distribution by December 31, or use the one-time option to delay it until April 1 of the following year. The delay can look harmless. But it may put two RMDs into one tax year, push modified adjusted gross income across an IRMAA bracket, and raise Medicare premiums two years later.
4 months ago
