SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The bigger question in my mind was how did they get the initial $250K into the retirement account.
After Stretch IRAs, What Retirement Breaks Could Congress Chop Next?
- Thread starter RetireBy90
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The bigger question in my mind was how did they get the initial $250K into the retirement account.
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Sounds stupid and self-serving to me. Essentially, he is encouraging you to buy life insurance from him on which he gets a nice commission to pay your kid's taxes.
I guess the first question is if you want to pay your kids taxes even to begin with. If the answer to that is yes, then identify a funding source.
If your Roths are more than 25% of your tIRAs then required distributions from the Roths can be used to pay the taxes due on the tIRAs.
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gcgang
Thinks s/he gets paid by the post
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Not sure if I remember this correctly, but in the 1970’s there was some kind of actuarily computed “excess accumulation” tax on retirement assets.
So how does the end of the Stretch effect planning? Guess my daughter will have 10 years of high income. Can her trust, created at my death, which has restrictions on withdrawal of principal, be used as the beneficiary, both to restrict her spending and protect assets?
So how does the end of the Stretch effect planning? Guess my daughter will have 10 years of high income. Can her trust, created at my death, which has restrictions on withdrawal of principal, be used as the beneficiary, both to restrict her spending and protect assets?
Been tryin to get the ole man to pay my taxes for years...he doesn't really want to pay his own, so I doubt he would offer to pay mine lol!
gwraigty
Thinks s/he gets paid by the post
Don't overthink this. It's a snapshot of a point in time.
In 1991, some Random Guy already has a balance of $250K in his 401k. Look at what Random Guy winds up with after about 28 more years of regular investing in said 401k. $5.3M. Current law allows Random Guy to rollover his 401k to an IRA. How is that going to work if the federal government decides to cap the amount allowed in IRAs? Or would rollover IRAs be exempt?
SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Don't overthink this. It's a snapshot of a point in time.
In 1991, some Random Guy already has a balance of $250K in his 401k. Look at what Random Guy winds up with after about 28 more years of regular investing in said 401k. $5.3M. Current law allows Random Guy to rollover his 401k to an IRA. How is that going to work if the federal government decides to cap the amount allowed in IRAs? Or would rollover IRAs be exempt?
I overthink nearly everything. It's part of my charm and why I'm such a big hit with the ladies.
I'm quite familiar with how exponential growth works, especially with regular contributions on top of that. I disagree with the government caps in principle, so I won't bother trying to defend something I disagree with and hope doesn't happen.
