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Thinks s/he gets paid by the post
- Joined
- Mar 14, 2017
- Messages
- 1,685
The second of these is a major reason why I'm doing it, though current rules say that we won't be affected by IRMAA until one of us dies. What got me started on conversions is that we had some headroom in the 12% bracket for 2021, though my whole conversion will probably be in the 22% bracket for 2022.That's the big one, yes, but having a tax-free slush fund for major purchases in the future is another good reason, even if no immediate tax savings.
Another reason is to reduce your tax-deferred balance a bit so that RMDs at age 72+ don't get your AGI into higher IRMAA tiers...
Having more after-tax funds available is also useful.