Dave Ramsey

Now, how much have you got, say, in index funds?

I would say about $4 million.

Okay.

And so the market is already up just under 10% for the year on index funds, okay?

Right.

Which would be $400,000 so far this year, which is more than you need.

Right.

Okay.

So you could live off of a portion of the income created from the index funds easily and have very minimal taxes on that.

Now, having said that, I want you to also sit with your tax advisor and your financial advisor and begin a strategy to start moving some of the 401k money on a steady stream into Roth and pay taxes on it now.

Because, how much is in 401k again?

About $3 million.

Okay.

So that's going to roughly, if it's in good mutual funds, it's going to double about every seven years.

So when you're 62, that's $6 million.

When you're 69, that's $12 million.

And all of that is taxable at ordinary income and taxable to your kids at ordinary income.

It sucks.

And you've got required minimum distributions at $73 million.

72 and a half.