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
Will There Be a Great Depression in 2030?
A Massive Increase to 401(k) Contribution Limits and Other IRS Thresholds
Should You Convert Your IRA While the Market Is Down?
Should the Federal Government Get Rid of the Roth IRA?
The Truth about Suze Orman
How to Supercharge Your Roth Conversion with a Reverse Mortgage
Is the Federal Government Going to Tax Your Roth IRA?
How to Take Money Out of Your 401(k) or IRA 100% Tax-Free
"Financial Advisors Are a Rip-off!"
Hastening the Debt Apocalypse – Student Loan Forgiveness
The Truth About Ken Fisher (Are Annuities Bad?)
When Should You Use an LIRP?
Did Joe Biden Just Solve the National Debt Crisis?
The Inflation Reduction Act of 2022--Will It Raise Your Taxes?
Whole Life vs. Indexed Universal Life and More…
How to Mitigate Long-term Care Risk…Without the Heartburn
Can You Retire on Life Insurance Alone?
The Bombshell in the 2022 Social Security Trustees Report
The Anatomy of a Debt Apocalypse
The Five Things Your LIRP Must Have
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