Suggestion Of Software When To Start Pension, Ss, 401K For Min Taxes

pdnaumann
  |     |   1 posts since 2020

I am trying to find an on-line program that will determine the best time to start my pensions, annuity, social security and 401K withdrawals in order to minimize taxes and maximize social security benefits, with a steady taxable income from standard CDs? Not interested in investment advice. Any advice?



Answers
Choice
  |     |   272 posts since 2020
Didn’t use any software, nor know any. I have always personally did my taxes (corporate and sole proprietorship working world) I started from the premise that if a couple, the ultimate test is to start from the end...will there be adequate funds for the survivor! Then I worked from tax aspects...minimum taxes ever paid and no taxes withheld for Soc Sec...which usually means taking from IRAs early and Soc Sec later...this is especially true for those with a pension arising from non-Soc Sec payments being withheld during working years ...Teachers normally). I retired early and all is still working out quite well. Talking to those you know that went before you may be also a good first step. Good luck!
Confused1
  |     |   33 posts since 2018
Try this website, lot's of smart people here that may be able to recommend what you are looking for.
https://www.early-retirement.org/


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