I was on IG and of course I’m being swapped with target ads. I was planning on starting to convert my IRA to a Roth IRA this year. (Only about $30k to hold down taxes). I’m 63 and likely still 4 years away from thinking of retirement.
But there are a lot of “solutions” that are suggesting it’s a mistake. I know some of the arguments such as, I’m paying taxes now or later. I think RMDs will be high for me. Also I feel the political environment in a few years will be worse and taxes will be higher.
I really don’t want to get targeted by all this companies.
Posted by ComplianceGuys
1 Comment
At 63 years old, a partial Roth conversion only makes sense if your income declines from retirement or unemployment, bringing you into a lower tax bracket. If you are still working full time and in a 22% or 24% tax bracket, plus state income taxes, it makes no sense to covert a traditional IRA into a Roth IRA and pay takes now.