Why Everyone’s Rushing to Do a Roth Conversion Before It’s Too Late

[@yoursafemoneypeople]

Do you believe taxes will be higher or lower in the future? What’s your plan? 👇

[@financiallydisciplined]

Taxes will most likely be higher. I’m choosing tax free! Roth is the way to go

[@yoursafemoneypeople]

Good plan

[@orthodoxNPC]

At 72, when RMDs begin, life expectancy factor is 27.4... the median retirement account balance is ~400k at this point... RMD would be $14598... almost completely tax free... then $2000 social security (if youre retiring while it exists) moves progressively up to the 12% bracket... lower than working years

[@yoursafemoneypeople]

@@orthodoxNPC Better never lower again, and when you pass it on what tax bracket will your heirs be in?

[@orthodoxNPC]

@@yoursafemoneypeople 95% of all "generational wealth" is lost within 3 generations... the true inheirtance is a trimphant can-do spirit