David discusses how much of your IRA you should convert, in what amounts and over what time frame.
If you’re not convinced by the possible dramatic increase in tax rates in 2031 to bump you into the 32% bracket, you’re not alone…
A whole battery of experts predict that tax rates will have to rise dramatically to help service the national debt and with the $200 trillion in shortfalls in Social Security, Medicare, and Medicaid.
In Comeback America, former Comptroller General David Walker predicted that effective tax rates for all taxpayers need to double by 2030.
David touches upon what would happen if the government doesn’t increase its taxes by 2043.
David mentions what your Roth conversion roadmap should look like in the next 10 years – and beyond – if you have the lion’s share of your retirement savings in tax deferred accounts like IRAs and 401(k) plans.
There’s one thing that you shouldn’t do before the “tax deadline.” You should not bump into the 32% tax bracket or higher.
David goes over what he refers to as a “wait-and-see approach.”
Mentioned in this episode:
David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
DavidMcKnight.com
DavidMcKnightBooks.com
PowerOfZero.com (free 3-part video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
David McKnight on YouTube
Get David's Tax-free Tool Kit at taxfreetoolkit.com
Comeback America: Turning the Country Around and Restoring Fiscal Responsibility by David Walker
Penn Wharton
The ABCs of POZ
My Thoughts on the Securing a Strong Retirement Act of 2020
My Post-Mortem on the Presidential Election
Tax-Free Income for Life Preview, Part 3 – The Secret to Mitigating Tax-Rate Risk and Longevity Risk within the Very Same Financial Plan
Tax-Free Income for Life Preview, Part 2 – How the Traditional Approach to Lifetime Income Annuities Could Spell Disaster for Your Retirement
Tax-Free Income for Life Preview, Part 1 – The Surprising Benefits of Guaranteed Lifetime Income
The Real Tax Implications of Biden's 401(k) Proposal
The Post-Mortem on Trump's First Term
What is The Elite POZ Advisor Group?
5 Tax Changes You Can Expect If Donald Trump Is Re-Elected
Why Most People Are Doing HSAs All Wrong
The Grand Unified Theory on a Happy Retirement, Part 2 – Principles 6-12
The Grand Unified Theory on a Happy Retirement, Part 1 – Principles 1-6
Is Joe Biden Coming for Your 401(k)?
Five Things Your LIRP Must Have
How to Avoid Over-Converting Your IRA
Can We Print Our Way Out of Our Problems?
If You've Won the Game, Should You Quit Playing?
How a Piecemeal Internal Roth Conversion (PIRC) Could Save Your Retirement
Can You Be Too Old to Implement an LIRP?
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