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Old 03-30-2015, 04:20 PM
 
10,832 posts, read 8,114,679 times
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Quote:
Originally Posted by mathjak107 View Post
exactly my point. your kids may be in a lower bracket than you are , especially when what is passed gets taxes paid over their lifetime . your conversion tax bracket may be much higher than their income brackets they inherit at.

conversions may just burn up good money at this point. unless you are filling up the 15% bracket odds are you will do more harm than good, like i said another few years and 100k will go througn in the 15% tax bracket as brackets are inflation adjusted. if you paid 25% on that amount from 74 to 100k you would hurt yourself.
Your point doesn't apply in our situation and financial goals but it's a good one that likely does for some people.
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Old 03-30-2015, 04:28 PM
 
72,409 posts, read 72,316,796 times
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Only you know your own situation ,which is why i never give one on one advice. This stuff can be so complex.
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Old 03-30-2015, 06:54 PM
 
Location: Columbia SC
9,090 posts, read 7,842,747 times
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I always said I can show one how to pay no taxes. Make no money. As my income increased, so did the amount of taxes I paid so I was always grateful my income was up. The taxes were secondary. I have to keep saying that as April 15th approaches......LOL
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Old 03-31-2015, 01:30 AM
 
72,409 posts, read 72,316,796 times
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but never forget , your fair share of taxes is what ever you can figure out you legally owe.

folks are so proud of the money they grew in their low cost index funds and they have no clue about how to play the 2nd half of the game . they end up paying so much in extra taxes by poor tax structure that they would have been better off with higher cost funds and better tax planning.
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Old 03-31-2015, 04:39 PM
 
Location: Forests of Maine
30,777 posts, read 49,634,862 times
Reputation: 19227
Quote:
Originally Posted by mathjak107 View Post
but never forget , your fair share of taxes is what ever you can figure out you legally owe.

folks are so proud of the money they grew in their low cost index funds and they have no clue about how to play the 2nd half of the game . they end up paying so much in extra taxes by poor tax structure that they would have been better off with higher cost funds and better tax planning.
Good point.

A solid tax-plan should keep your income sheltered at all times.
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Old 03-31-2015, 06:13 PM
 
Location: Columbia SC
9,090 posts, read 7,842,747 times
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Tax avoidance is legal. Tax evasion is illegal.
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Old 04-04-2015, 02:50 PM
 
Location: San Francisco Bay Area
4,788 posts, read 2,589,188 times
Reputation: 9360
Quote:
Originally Posted by biscuitmom View Post
Not sure how to think about what the brackets will be ca 2050. But since our kids, like so many today, will have zero pension income it's safe to say they'll be in low brackets.
The only way they will have zero pension income is if they "live for today" and do not make prudent investments into a retirement account.

Also, there are still companies, especially government jobs, that still offer pensions. They are not as good as before, but they are still quite a good benefit.
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