Retiring at 60 With $2.2 Million in Your 401(k)? Make Sure You Convert Before Medicare

If you’re approaching retirement with a healthy 401(k)—say, around $2.2 million—planning ahead can make a big difference for your Medicare premiums and long-term tax picture. One important step to consider is converting some of your 401(k) funds to a Roth IRA between ages 60 and 62. Doing so can help you avoid higher Medicare premiums down the line, minimize those future required minimum distributions, and keep your tax situation as smooth as possible. Paying the conversion taxes from your taxable accounts and waiting to claim Social Security can make this strategy even more effective. As someone who helps people every day untangle the complexities of Medicare, I know how overwhelming all the moving pieces can feel. My approach is always to break things down simply, listen to your unique needs, and offer guidance that helps you feel confident about your choices. If you’d like help making sense of Medicare as you look at your retirement finances, you’re not alone—let’s make it easier together.