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Episode 2563:
Mike Ballew of EggStack.com delves into the intricacies of Roth Conversions, explaining their taxable nature and strategic benefits. He emphasizes their potential for long-term tax savings, especially for those anticipating higher future tax brackets or increased government spending. The article balances these advantages with the financial planning challenges they pose, including the impact on savings and the risks of future tax changes.
Read along with the original article(s) here: https://eggstack.com/blog/2021-05-02-Roth-Conversion/
Quotes to ponder:
"The primary advantage of a Roth conversion is that over the long haul you may pay less in taxes."
"A disadvantage of Roth conversion is that any general savings you have set aside for unexpected expenses are going to take a hit."
"A Roth conversion is like when a normal character transforms into a superhero – it supercharges your retirement contributions."
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