Episode Details

Taking a big 401(k) withdrawal now could spike your Medicare premiums for just one year — but only if you qualify for an early adjustment, which most people don’t. Since Medicare bases rates on income from two years ago, a withdrawal today affects next year’s premiums, not permanently. Without a “life-changing event” like retirement or loss of spouse, you’re stuck with those higher costs until your future lower income gets factored in. Some retirees try Roth conversions to smooth income and keep premiums low, but even then, expect a temporary bump — plan for it.

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