[Boomer]

For the past week or two, I have found that my thoughts are turning to converting a traditional IRA into a Roth IRA. Could it be that my current income tax rate will never be this low again? I must admit, the thought has crossed my mind. I know that is not the way it was likely to be, but lately it appears that all bets are off. The taxes of the future are looking pretty scary to me right now. But what do I know?

Is it worth it to pay taxes now to convert, giving up that tax-deferred status for tax-free status down the road?

But I must say that somewhere in the back of mind, I get a little hinky thinking about whether those taxpayer abusers, also known as Congress, could just revoke the Roth tax advantage at some point and collect from me twice.

I have just started to do my homework on this. And like I always say here when I write about money stuff, I am not a financial professional of any kind. And I will certainly talk to my accountant eventually about this. But for now, I am doing my homework. I do homework sometimes. Last week I kept posting that FDIC information on here to see if anybody wanted to share my homework.

There sure is a lot to know about converting to a Roth. First, you have to figure out if you even qualify. Then if you do, and you decide to go through with it, you have to make sure it is done exactly right. And you have to decide where to take the account and how you feel about all that, including the safety of the account. And a bunch more stuff, too. . .

Wow! I think I will go outside and play instead.

Boomer