Forgive the CPA thinking, but this might just be the opportunity of all opportunities to do a Roth conversion. Our current tax rates coupled with the recent slump in stocks give us all a chance to do something which benefits us in the years to come.
Forgive the CPA thinking, but this might just be the opportunity of all opportunities to do a Roth conversion. Our current tax rates coupled with the recent slump in stocks give us all a chance to do something which benefits us in the years to come.
pls explain the concept for us money dummies
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why now?
If you believe the Dow Jones Indistrial Average will eventually get back to 29,000 and you invest in low-cost Fidelity and Vanguard index funds, everything you buy now will become more valuable. If you wait too long hoping to catch the bottom, you might miss the wave. It’s already at 19,000. Just start buying now.You think its bottomed out?
With the reduction in your 401k due to the virus the number your converting into your Roth will be less, therefor less tax to pay on the conversion.