What do do with money after 90 years old?
My grandfather is running into some trouble because of his age. A feat in itself if you ask me. The problem is he turned 90 this year and had to withdraw all the money from his IRA's and now pay tax on them as earnings. The way I understand it is because he's on SS that the additional IRA income he has added to what he gets for SS puts him over the limit for earnings.
Does anyone know of anything he can do to avoid having to pay income tax? Is there anywhere he can reinvest that money tax free? I don't think it's too much money, maybe $50,000.