Episode Details
Back to Episodes
IRA Withdrawals and Medicare Cliffs | Durham News
Description
Pulling a big chunk from your IRA might seem like a smart move for a new home or family help, but it can backfire financially. That withdrawal counts as income and triggers IRMAA—a steep Medicare premium hike that kicks in two years later, potentially doubling your Part B costs from $200 to nearly $700 per person. Plus, it can push you over Social Security’s tax thresholds, making a chunk of your benefits taxable. RMDs add even more income pressure. The sweet spot? Use the years before RMDs start to convert traditional IRA funds to Roth, or use qualified charitable distributions to avoid income spikes. Timing matters—strategically managing withdrawals now can save you thousands later.
Listen in comfort:
Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.
Advertise on DNN:
advertise@thednn.ai
This is an automated, high-level news summary based on public reporting.
Report issues to feedback@thednn.ai.
View sources & latest updates:
https://sources.thednn.ai/60633c6a68526e1d