Should You Do a Roth Conversion in the Same Tax Bracket?
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- Опубліковано 15 чер 2024
- Should you do a Roth Conversion, even if you're projected to stay in the same tax bracket?
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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results. - Розваги
Great information. This is why I subscribe. Thank you.
#2 reason never thought about . Thank you very informative
Medicare IRMAA could also come into play if suddenly single.
What can you use as a projection? I am over 10 years away from retirement and rates can change so drastically I am not going to chance it. Pay your taxes now and retire without the unknown.
Highly recommend you contribute to Roth 401k (if available) unless you are lucky enough to be in the 32% or higher tax bracket. Managing the tax implications of pre tax 401k and IRA money in retirement is a giant pain.
Good points. Many reasons to put a decent enough chunk into a Roth.
You forgot one ... The money in the Roth fund will continue to grow tax-free!
#4: For higher earners, such as this couple, the Medicare surcharge IRMAA will most likely need to be considered when making Roth conversions. You need to watch IRMAA starting at age 63, since Medicare looks back 2 years.