Learn how this couple from Georgia was able to save over $40 million in life time taxes by doing a Comprehensive Roth IRA Conversion and increase their ending net worth to over $51 million

NOTE: The majority of these strategies will still work in 2023

1. $4.3 million Investable assets
2. Husband age 65 & Wife age 65 ($4.3 million IRA)
3. If they continue doing what they’re doing (taking Required Minimum Distributions from their IRA accounts and re-investing the difference) then their lifetime tax liability is $7.5 million
4. Projected ending net worth of $7.7million at wife’s death (age 100)
5. Traditional “fill up the 24% marginal tax bracket” Roth conversion techniques = $4.9 million life time taxes
6. COMPREHENSIVE ROTH IRA Conversion planning = $600k lifetime taxes and an ending net worth of $52 million!

Reduce taxes now…increase your net worth.

** Take note of the 5:28 mark for a DETAILED 1040 Form…

How did this couple save over $6.8 million in taxes and increase their ending net worth by over $52 million? COMPREHENSIVE INTEGRATED ROTH IRA CONVERSION PLANNING. How did they do a lump sum $4.3milion IRA conversion and only pay $600k in taxes? Comprehensive Planning.

WARNING: Roth IRA Conversion laws will be coming under heavy scrutiny and Senate Finance Committe Chair Ron Wyden-D., Oregon has “vowed to pursue curbs” per the WSJ 7/2/21 article. We believe that the limiting of these stratgies and the elimination of Back Door Roth IRA converions in imminent….the government has to pay for the $9 trillion Corona stimulus and infrastructure plan somehow….

Learn about the Supercharged Roth IRA conversion techniques that saved this GA couple millions of dollars!

Want to learn more? Contact an Optimal Tax Planner–Click the link below to set up a virtual online meeting!

Thanks!

Dave Anthony, RMA®
www.optimaltaxplan.com
(435) 657-2436…(read more)

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A Supercharged Roth IRA Conversion Strategy for Millionaire Couples

If you’re a millionaire couple and you’re looking for a way to boost your retirement savings, the Supercharged Roth IRA Conversion Strategy may be the solution for you.

A Roth IRA is an individual retirement account that allows you to save for retirement using after-tax dollars. This means that when you withdraw the money in retirement, you won’t owe any taxes on your earnings or your contributions. For millionaire couples, a Roth IRA can be a great tool for managing taxes in retirement and passing on wealth to future generations.

The Supercharged Roth IRA Conversion Strategy involves converting a traditional IRA or 401(k) into a Roth IRA. To utilize this strategy, you must have a significant amount of pretax retirement savings, such as those in a traditional IRA or 401(k). Here are the benefits of this conversion:

1. Tax Diversification: A Roth IRA allows you to diversify your retirement savings by having both pre-tax and after-tax assets. Converting a traditional IRA or 401(k) into a Roth IRA allows you to have more after-tax assets in retirement, which in turn can help reduce your required minimum distributions (RMDs) and potentially lower your tax rate.

2. Tax Savings In Retirement: By converting to a Roth IRA, you can enjoy tax-free withdrawals in retirement, which can significantly reduce your tax bill. Plus, since Roth IRA distributions aren’t taxed, you can withdraw money from it when other income sources are taxed, such as Social Security.

3. Estate Planning: A Roth IRA can be a powerful estate planning strategy. Unlike traditional IRAs, Roth IRAs don’t require minimum distributions during your lifetime. This means you can let your money grow tax-free for as long as you want and pass it on to your beneficiaries tax-free.

Here’s how the Supercharged Roth IRA Conversion Strategy works:

1. Identify your Tax Bracket: The first step in this strategy is to determine your current tax bracket and project what it will be in retirement.

2. Identify the Amount to Convert: Next, determine the amount you’re willing to convert from your traditional IRA or 401(k) to your Roth IRA, taking into account your tax bracket.

3. Convert the Amount: Once you’ve identified the amount you want to convert, contact your financial institution and request the conversion.

4. Pay Taxes: Since you’re converting a pre-tax account to an after-tax account, you’ll owe taxes on the conversion. Be sure to budget for the tax bill.

5. Repeat the Process Annually: Depending on your tax bracket and financial goals, you may choose to repeat this process annually to maximize the benefits of the strategy.

The Supercharged Roth IRA Conversion Strategy is an excellent way for millionaire couples to reduce taxes, diversify retirement savings, and maximize their legacy. However, it’s essential to work with a financial advisor to ensure the conversion aligns with your overall financial goals and objectives.