If you are at Fidelity, they will only allow you to have 99% of a distribution withheld. I have no idea why. I do withhold 99% of both of my inherited IRA distributions for Federal and state taxes. One of them is a Roth, but you can still withhold taxes from it.
When the number of retired people is reaches 50% of the workforce, the taxes required to balance the budget would be crushing. It's not surprising they can't do it, and have to rely on deficit spending.
The type of people who read articles about financial planning often have the opposite problem. They retire at 62 with $3 million, and die at 94 with $10 million. Some of them spend a lot of money in retirement, too.
One thing you don't mention is that if you have a child under 18, you get extra money until that child turns 18. That might influence you to claim early.
Comments
Medigap is not bad compared to paying IRMAA. You're looking at an additional $6400 a year just for one retiree.
Post: A bleak picture for retirement in the future?
Link to comment from September 6, 2026
Well, don't be average. That's why we have Humble Dollar - to show us the way.
Post: A bleak picture for retirement in the future?
Link to comment from September 6, 2026
The 46% is probably per card. An individual might pay off one card every month, but have a balance on another one.
Post: Americans and their credit cards
Link to comment from September 1, 2026
One approach would be to adjust capital gains for inflation, and then tax them as ordinary income.
Post: $40 Trillion of Debt
Link to comment from August 22, 2026
If you are at Fidelity, they will only allow you to have 99% of a distribution withheld. I have no idea why. I do withhold 99% of both of my inherited IRA distributions for Federal and state taxes. One of them is a Roth, but you can still withhold taxes from it.
Post: If Retirement is Getting Close
Link to comment from August 21, 2026
The best way is to apply your overpayment to the current tax year, and reduce you tax payments to offset it.
Post: Frozen 2025 1040 refund and the IRS CP53E notice
Link to comment from August 21, 2026
When the number of retired people is reaches 50% of the workforce, the taxes required to balance the budget would be crushing. It's not surprising they can't do it, and have to rely on deficit spending.
Post: Federal debt
Link to comment from August 19, 2026
The type of people who read articles about financial planning often have the opposite problem. They retire at 62 with $3 million, and die at 94 with $10 million. Some of them spend a lot of money in retirement, too.
Post: For most retirees, the greatest fear is not death—it is running out of money before they die.
Link to comment from August 6, 2026
A CFA would be top-notch, but they generally don't work with individual clients.
Post: Beware the CFP Designation?
Link to comment from August 4, 2026
One thing you don't mention is that if you have a child under 18, you get extra money until that child turns 18. That might influence you to claim early.
Post: Social Security
Link to comment from August 4, 2026