Quote:
Originally Posted by JohnN
Boomer,
I've done a conversion to a Roth. Yes there are a few things to be aware of, but it can be a very good $$ idea.
I try to convert an amount that reaches the top of my tax bracket each year (since it'll never be lower, I figure). If you want to talk about it, send me a note and I'll give you some specifics.
|
JohnN,
I think sometimes that you might be my long lost twin brother. Only you are a couple of steps ahead. Converting annually makes a lot of sense to me, and I had never really thought of it. We have done one conversion since retirement, to let stock hang out inside the Roth. But that was just once. Doing it all along would have been a good idea I think. But I never looked into it again. -- until now. I keep thinking I see handwriting on the wall.
I cannot create any scenario in my mind where our taxes will get lower in the future. How can they?
But what do I know? No credentials, I always make that clear. It always just comes from my gut. Some right. Some wrong. But this Roth conversion idea is not going away. I like the idea of no forced withdrawal timeline. I am not near 70 and 1/2, but who knows how long the long term will have to be this time.
Oh well.
Thanks, JohnN.
Boomer