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Consumption smoothing

Maximizing Income is No Simple Matter

Janet Kidd Stewart
The Associated Press

May 11, 2008
Q: I am 63, my wife is 61, and we both still work. Our goal is simple: We want to maximize our net retirement income. If we have too much income, our Social Security will be taxed, and our Medicare payment increased. After 70 1/2, there are mandatory withdrawal rules for our IRAs. The IRS, Social Security and Medicare all provide calculators, but none includes all these rules. Can you recommend a calculator that includes all these rules so I can determine my actual retirement income? -- B.L.

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