Quote:
Originally Posted by mrf6969
I have been converting my IRA's to Roth for years. I am 73 now and this is my final year to be able to do this. Makes sense to do this as now the Roth IRA's will grow totally tax free with no burden on those that will inherit.
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Tax-free from a fund that took a 22% reduction in 2024
OR
Pay 22% tax from a fund that was not reduced in 2024
The simple math says that is a wash.
The more complicated math considers RMDs and their effect on SS taxes and Medicare fees
The WAG comes with factoring in future gains, future changes in ROTH rules, future tax tables, and the tax status of heirs during the time they are required to make withdrawals.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
Last edited by Bill14564; 10-09-2024 at 07:54 AM.
Reason: spelling and grammar
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