Reported 4 days ago
Withdrawing significant amounts from your retirement plan, such as $95,000 in a year, may push you into a higher tax bracket and increase your Medicare premiums due to the Income-Related Monthly Adjustment Amount (IRMAA). While this surcharge is temporary and based on your modified adjusted gross income (MAGI) from two years earlier, it can highlight the importance of strategic withdrawal planning. Consulting with a financial advisor can help you navigate these complexities and mitigate future impacts on your Medicare costs.
Source: YAHOO