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An Alert For Older People Shopping For Higher Rates On Traditional IRA's While Trying To Convert Everything To Roths.

Ally6770
  |     |   4,309 posts since 2010

I had a traditional IRA that matured on Jan 3 of this year.

I for the first time I received a paper stating the fair market value and the amount for the 2024 RMD.

I just received the Jan statement and with the higher interest on the new traditional IRA CD the interest will be more than the RMD required for this year.

It is good for those that want higher income but I am also trying

to convert everything to a Roth before I pass and still stay below the IRMAA amount and this is something I did not think of when I shopped for the highest rate I could get on my traditional IRA.

Love Ken's site and have used it since I first could get internet and always shopped for the highest rate. Did not think of this situation though. Never paid attention before to see if it has been that way in the past and hopefully it will not be for every year.

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