Wine Down - Taxes, Roth Conversion, Market Correction and Inflation
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The pandemic has significantly slowed down and things are changing. What questions relating to your retirement planning do you have?
In this episode Secure Your Retirement, we tackle some questions on the changes that might occur in the future during our Wine Down. We cover questions on potential tax changes, Roth conversion, planning for a market correction, and inflation.
Listen in to understand why you need a plan and don\\u2019t need to necessarily rush before any concrete changes happen.
In this episode, find out:
\\xb7 The potential change in capital gains tax and its impact on you according to your income.
\\xb7 An increase in the tax rate on high-income earners.
\\xb7 Conversations on significantly lowering estate tax from the current $10 million.
\\xb7 Talks on adjusting co-spaces where beneficiaries have to pay taxes on the value increase of a property.
\\xb7 Why you should always look into Roth conversion, especially if you\\u2019re close to retirement.
\\xb7 Understanding how to convert or contribute money into a Roth account and its advantages.
\\xb7 Why you should have a plan in place for the pre-determined market correction.
\\xb7 How to strategize and shift into assets that will do good in inflation.
Tweetable Quotes:
\\xb7 \\u201cThese are potentials, do not act on those potentials yet, let\\u2019s wait and see what they are.\\u201d- Radon Stancil
\\xb7 \\u201cIf you make a lot of money, then you may not have the ability to contribute to a Roth account.\\u201d- Murs Tariq
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.
To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.
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