Widows and widowers whose spouses were younger than 72 at the time of death need to examine their options carefully before rolling over their spouse’s IRA.
Depending on your income and household size, you may qualify for federal tax credits, a combination of credits and subsidies, or Medicaid.
Some individuals have excellent records and can project what they will need. Many cannot. Here are two methods for gauging what your spending needs might be in retirement.
It’s best to approach tax-loss harvesting cautiously and keep your broader financial plan in mind when making any tax planning decisions.