Will IRA Withdrawals Affect My Medicare Premiums?

Social Security Matters
by Russell Gloor, National Social Security Advisor at the AMAC Foundation, the non-profit arm of the Association of Mature American Citizens
by Russell Gloor, National Social Security Advisor at the AMAC Foundation, the non-profit arm of the Association of Mature American Citizens

Dear Rusty: I am a member of AMAC and learn so much from the Ask Rusty column. I hope you can give me some information about a question that has come up in my family. My husband is retired and has reached full retirement age. He is considering withdrawing money from an IRA to pay off our mortgage. We are wondering what, if any, penalties may be incurred on Social Security, Medicare, and income tax…