I’ve read the user manual and viewed the Bogelheads video but I’m still not clear on this. I’ll be retiring at the end of 2024 at the age of 68. I’m deferring SS until age 70. For 2025 and 2026 I would like to withdraw from a TD account, but I don’t see where to put that. I would also like to put WDs in until I have to start taking RMDs at age 73. Can anybody help?
@jjodod You can schedule withdrawals from your TD account via the Scheduled Withdrawals table on the Financial Assets > Management page. That table allows you to specify start and stop years, the annual withdrawal amount, and the account from which the withdrawals are to be made. Those funds are then deposited in your cash account where they can then be used to cover your expenses.
Stuart
Thanks for the advice on using the "Scheduled Withdrawals table" to setup tax deferred withdraws during your 60's through 72 (delayed Social Security filing). However, can you use Pralana to determine the "tax optimized" dates and amounts. There is a very complex blend of RMDs, ACA subsidies, SS deferrals, tax rate maximums, etc. to consider when blending the withdraws during these years. Is it as simple as playing with the different mixes and reviewing the outcomes? Thanks for your help. David
Adding to the prior question and expanding on the withdrawal case, as Medicare premiums will vary based on inflation and earnings etc., is there a way to allow the TD (HSA) withdrawal to grow to match the Medicare premiums? This premium would include the IRMAA uplift etc., if applicable.
@poston688 You can use the withdrawal optimizer to calculate the optimum amount and asset location for withdrawals each year.
Related question about using the Scheduled Withdrawals panel... what is the timing of "stop year"? Let's say I have 50K annual withdrawals scheduled for 2025-2026-2027. Is the stop year 2027, or 2028?
Edited: I believe the stop year is the last year you want something to occur, so in my case, 2027 is the last year/stop year for the withdrawal. Looking at the projected withdrawals confirmed this.
@gianmatt96 Just to confirm, on the Scheduled Withdrawals page, "stop year" is the last year of the withdrawals. If you set that at 2027, there will be withdrawals in 2027 but not 2028.
Stuart
