Will the New Tax Bill Scrap Roth Conversions?

If you have been planning to do a Roth IRA conversion to keep your retirement savings out of the hands of the IRS, you might want to get on that sooner than later. It appears that the new tax bill on Capitol Hill is proposing to do away with these conversions for everybody after the end of 2021.

This is a concern for more than just the folks who earn more than $400,000 a year. Given the amount of irresponsible government spending that’s taking place, this shouldn’t be terribly surprising. The bigger question is what you ought to do about it to protect your retirement nest egg.
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HERE’S A BRIEF SNAPSHOT OF JUST A FEW OF THE TOPICS COVERED IN THIS WEEK’S BROADCAST:

  • Is it really just the rich who are in the crosshairs for this new tax bill? Doug explains this new tax law will affect everybody and is just one threat facing your money.
  • Why is tax-free accumulation a safer way to go than with a tax-deferred approach? Doug shares the critical difference between these two approaches and lays out why time is of the essence.
  • What is the difference between the imposition of a new tax and the ending of a tax break? Learn how the end result is pretty much the same in regards to the tax man getting his hands on your savings.
  • How is the Biden administration looking to change the way people contribute to their 401(k)s? Doug reveals the administration’s plan to eliminate your ability to fund your 401(k) with pre-tax dollars.
  • Why does Doug refuse to ever own a 401(k) or IRA or even a Roth IRA? Learn about Doug’s preferred vehicle which has the two benefits of the Roth and four additional benefits and has been a sacred cash cow to the IRS for over 100 years.
  • What is the LASER fund and how could it help you? Discover how to enjoy liquid assets safely earning a predictable rate of return and how this negates the dangers of higher taxes, rising inflation and market volatility.
  • And much, much moreā€¦

Start by visiting with a IUL Specialist today.

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