I'm 60 With $1.5M — Can I Retire AND Spend $10k/Month? | The Limitless Retirement Podcast

 👉Get Your Free Retirement Assessment: https://gudorffinancial.com/get-startedFinancial planner Danny Gudorf discusses the complexities of retirement planning, focusing on the challenges faced by individuals with $1.5 million in savings who wish to withdraw $10,000 monthly. He emphasizes the importance of understanding withdrawal rates, Social Security timing, and tax implications, as well as the need for a comprehensive approach that includes long-term care and estate planning. Takeaways          If you're between 60 and 70, there's a tax planning window.Converting during this window can save you money.RMDs can significantly increase your taxable income.Many believe taxes drop in retirement, but that's not always true.The widow's tax trap can lead to higher tax brackets.You can intentionally move funds to a Roth IRA.Current tax rates are historically low and may rise.Proper planning can save significant amounts in taxes.Not all situations benefit from Roth conversions.Legacy planning is crucial for inherited IRAs. Resources:Gudorf Financial GroupGet Your Free Retirement AssessmentThe Retire Ready Toolkit (free resource)Subscribe on Youtube