Skip to main content

Ask the Hammer: Converting Excess Money Beyond Your RMD

Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners answers a Retirement Daily reader's question about converting excess money taken beyond an RMD.

In this episode of Ask the Hammer, the Retirement Daily reader's question is:

I’m retired at the age of 71 this year (2022), and I will begin to have to take RMDs of about $50,000. However, I want to take out about $75,000… can I convert the excess $25,000?

Our expert, Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners, has the answer to this question.

Levine discusses both the questions of "can you" and "should you" convert the excess. He also talks about the taxation of the money taken out, and how earnings on the money may be treated. 

Stay tuned for more Ask the Hammer!


Got questions?

Email AsktheHammer@BuckinghamGroup.com


More Ask the Hammer

Am I Always Eligible for the 0% Capital Gains Tax Rate?

When Should I File My Taxes?

How Do I Invest the Fixed-income Portion of My Portfolio?

Should Parents Provide Financial Support to Adult Children?

What's the Value of a Risk Tolerance Questionnaire?

How Do I Select the Best Retirement Plan Payout Option?

What Are The Distribution Rules for Beneficiaries of Inherited IRAs?

Should We Worry About National Debt?

What are the Tax Consequences to Selling Assets in a UTMA or UGMA?

What are Some Tips on Buying a Used Car?

Is it Possible to Put an RMD Back Into an IRA?

What Does Reg BI Mean for Investors?


Follow us on Instagram and Twitter!