On 10/25/2011 9:40 PM, Metspitzer wrote:
On Tue, 25 Oct 2011 17:54:42 -0700 (PDT), Frank
wrote:

On Oct 25, 8:37 pm, wrote:
Anyone know of a rough way to figure out what is the right amount of
money to take out of retirement without paying too much tax that year?

My income will be the same this year is it was the last, but I want to
withdraw some of my retirement. How do you figure out what percent
tax you will have to pay?

If you can recommend an "active" group where this would be on topic I
would appreciate it.

If you are 70 and 1/2 there is a minimum distribution of about 4%.
Since you pay income tax on it, what ever it adds to your total will
be taxed at that maximum. Same for anything you take out but there
are penalties for early withdrawal. Most I know, myself included,
take the minimum distribution.

I forgot to mention I am 52/disabled so there is no penalty to take it
out. I called it an IRA. It is actually a Vanguard mutual fund.


Personally, if I did not need the money, I would leave it alone and let
it compound tax free. Don't know how your mutual fund is doing but
think you can rotate it without penalty.

I did not take any withdrawals from IRA's or 401k until it was mandated
and since I still have work income can buy Roth's.