I'm a bit humbled to be looking at a real first world problem, making to much money and trying to find a solution to avoid them.
I have about a 50/50 split between tax deferred accounts and regular savings.
I'm 62, my wife is 4 years younger. Even with a conservative 5% growth from now until
RMDs are required at 70-1/2, we are looking at $50k in RMDs the first few years, add $36k SS
and $25k dividends, plus other income, we are looking at way more income than we need. And a big tax bill.
I know I can do some Roth Conversions, but, that won't get even that $50k down to $40k.
We could start gifting our two children, but that would require selling shares triggering income or capital gains, and increased taxes now.
Hmm, my question started out, should I stop putting money in tax deferred accounts,
then noted I have this tax problem looming in the future.
So. I've shown my dilemma, any helpful thoughts? Other than telling me I should celebrate.
I am very thankful.