Under the new tax code it makes sense to consider converting some of your IRA funds to a Roth IRA. Tax rates are low and one of the strategies I am considering is converting funds that do not push me into the next tax bracket and take some funds each year and convert them. This article describes the benefits of this strategy.
The benefit is to get these retirement funds out of required minimum distributions and most likely tax rates will be higher in the future to pay for the $20 trillion debt we have accumulated.
…And it’s likely that income tax rates will rise — not fall — in the future, experts predict
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Regular | $2,000 + |
IRA | $25,000 + |
Term | Interest Rate |
2 Year | 3.00% |
3 Year | 4.00% |
5 Year | 6.00% |
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