Does anyone know of a free calculator to determine the right mix of IRA and Roth conversions during retirement?

Calculators can be found at online brokerages and mutual funds - but don't expect them to be more than crude back of the envelop math. Your personal circumstances are critically important. And, equally important are the assumptions you must make about the future - tax rates, income, lifetimes, drawdown needs, etc. To look at conversions, you need to track parallel investments pools - your current IRA, your Roth and your taxable brokerage. This is sometimes better done with a spreadsheet.

If you post some of your details and what you were considering, you will get some responses.

Often a partial conversion is attractive because you increase flexibility of distributions and can manage the tax bite. If you will qualify over many years, you can convert a fraction each year without generating tax bracket creep.

John G
Thanks for your quick response.
Roth conversions to date $153000
IRA $539000
Taxable inv. inc 2nd home $740000
Income (DIsability) tax free $72000 for five more years then half for life
Can adjust taxable income from 10 to 15% tax bracket
Age 60
Itemized ded. $ 46000 Total $$52000
I wish to balance IRA and Roth to minimize taxes and pay min. tax on social security in six years.I am presently trying to determine the amt.of IRA conversion, each year, over the next 5 to 10 years. Any ideas?

Bob1

I did not fully understand you data - what is you taxable income now, not sure how the second home fits into the picture, filling status, marital status, likely amount of social security (starting when?) and are you drawing any income from your IRA yet.

But here is some quick feedback.

The IRA distributions will be taxed as ordinary income - which you suggest is in the 10-15% range for you right now and probably into the future. If you convert your IRA to Roth, it seems you will pay tax at the 10-15% range. That is close to a complete offset, so it doesn't look like there is any big advantage to a Roth conversion.

If you still think there is an advantage for you to convert, I have two suggestions. You might consider a Roth conversion only for the amount that takes you to the 15% tax rate, if you can calculate your numbers that closely before each year runs out. Second, you might want to do a couple of modest conversions in the years before you start your social security.

Don't try to find a calculator on line as they are not likely to handle the disability income treatment. You probably have to set up your own spreadsheet.