Ask Bob: IRA Withdrawal Strategies

Robert Powell

Question: Our gross income per year is $100,000, which includes my wife's city retirement and my Social Security. This does not include my RMD of about $10,000 a year that adds to our income and that we pay tax on. We do not need to withdraw money from our IRAs, 403(b) fixed fund or 457 Stable Value Fund. We have a significant amount also in a savings account.

Would we be wise/better off for the future if I withdraw $25,000 from my IRAs knowing that this amount adds to my taxable income, plus my RMD of about $10,000 making income about $135,000.

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