Similar to the 'limits' options that can be set in Roth Conversions for IRMAA, Tax Bracket, etc., can we have a limit of the Dollars that can be converted in a given year? It is nice to have the various limits and optimizations but if you do not have the funds available, it is of little value. This way, you can 'Roth Convert' up to the dollars available as another limiting factor. Thx.
@slaufer By "not having the funds available" are you talking about to pay the taxes? I believe PRC makes sure those taxes are accounted for in the cash flow and available from somewhere (hopefully excluding the converted funds themselves).
@hines202 Bill, a bit of clarification; this is not about the process flow for Roth conversions, which, I agree, Pralana does address the funding for taxes (however, Pralana may pull additional 401K funds to address this, which may not be ideal or allowed). Remember, some maybe doing Roth conversions while still employed (earned income) or have not reached the age of 59 1/2.
This is about setting limits on each annual conversion amount - currently we are allowed limits based on several variables - including tax bracket. What if I do not want to convert to the limit of the tax bracket but to a 'spend level' inside the tax bracket?
This is the ask, simply another column/category called 'spending maximum' (or whatever), that allows me to set a plan to convert an absolute amount - let's say $192K for 1 year, then 100K/year, for 3 years, then based on tax bracket limit etc.
Thx
