So we are getting ready to move to what will be our home in early retirement in about 5 weeks. I'm 54, 55 in three months and my wife is 51. Our youngest child is turning 21 in three months so is five years away from the 26 age out of medical coverage on our dime and is a Type 1 diabetic so needs decent coverage. As things sit right now we will be "renting" our current home to three of our adult children (one of which is the son in question) and just having them cover the utilities to give them a runway to save up money for down payments for places of their own. You can follow the details of that in some of the other threads I regularly post in on the board. The new home was paid in cash so no mortgage. Once we sell this other house in a few years we'd be mortgage free so the longest that would go would coincide with the 5 years until the youngest is off our insurance and I no longer need to work as the carrier of the job which provides our insurance (wife is self employed). We are right about our FIRE number now (we were comfortably above it until the self induced market collapse of stupidity) so I'm basically maintaining the job to have health insurance. Yes we've checked ACA options and far more than what it costs from the job so it would not allow us to FIRE while we need family coverage. I hope that provides enough background of the timing and such we are looking at to pull the trigger.
All this has led to me getting more familiar with what money we can access and how at our age now (in the event kids just decide they are really flying the nest and jump on their own insurance which they all do have access to through employers now etc.) to the ages we would be at "worst case" if we need to ride this tiger for the next five years just coasting to FIRE paying the mortgage on the existing home living our dream in the new one when we'd be 60 and 56. Right now all my tax advantaged accounts are either current 401(k) or traditional IRA. It appears that converting to Roth makes sense. If crap hits the fan with my job I'm at Rule of 55 with turning 55 this year that I could access the 401(k) at any point so I am aware of that. But I can't touch IRAs without penalty until 59 1/2. We currently with just about $30K in taxable accounts we could access as we used the rest to buy the new house free and clear, but when we sell the house we should clear $200K-$300K and kids are aware we may need to pull the ripcord if I lose my job in the economic shitstorm we are in and cannot find another one at 55+ in a much smaller job market we are moving to that is mainly industries that are heavily impacted by tariffs and therefore might not be hiring or even there. So our Plan B would be telling kids we've got to sell in the next 6 months so they need to find apartments or whatever and getting our taxable accounts back to the levels they were. I've been running scenarios on Boldin for Roth conversions and the one to give the lowest tax liability given all these other flow (which right now include everything I said above and selling the house in 2030) says we should do 9 conversions over time starting with a very small one of $1,800 at the end of 2026, then several sub $5K ones for the next 4 years and then in 2031 $78K and then several years of $200K a year until done in 2034. This is where I am coming to the MMM community for help as my financial knowledge here is less comfortable. Does this seem to make sense? If I understand the rules correctly, I can always withdraw 100% of the amount I converted but cannot touch any earnings for 5 years, so by 2039 everything is fair game with a few earnings buckets opening up starting in 2031 if we were choosing to tap the earning from the $1,800. We have a 99% success rate with Average assumptions in the Boldin model and only fall off the cliff with the Pessimistic model not making it to the end in our 90s if we got that far, so that seems reasonable as we would certainly make adjustments if needed as things went along over the next 35 years. The model already is built spending 20% more than we think we really need to so I feel if we have to pull back on the 4% SWR we could. I'm also not sure if anyone here has any opinion on Boldin. I did a search for the a NewRetirement (their previous name and found nothing on MMM. I'm in my 14 day trial before I need to up for the $120 annual cost but seemed far less than the $2,000-$5,000 quotes I had gotten for fiduciaries to give me a financial plan when all I really need is Roth conversion comfort. Are there other tools people would recommend instead that run these models? I feel confident in the other pieces or that the community here can more than answer. I was just surprised at how aggressive the conversion path was and even running things with their other setting the timeline was very similar being done with conversations in the next 10ish years. Should I open a Roth IRA account now for some reason? Will I need each of these conversions in a separate account or do I just need to make sure I stay clear of withdrawals of earnings and if I can monitor that myself can just do it in a single Vanguard Roth IRA account rather than have 10? Not even sure if there are questions I should be asking that I am not.
Thanks for your replies. Looking forward to hearing everyone's thoughts.