Any Wealthy Woman’s Roth Contribution Plan
Here’s a simple plan that may help a person tuck away a little money and go tax free. Especially now that tax laws changed for 2020, it becomes even more important to go tax free. And, there is a hidden benefit for older folks and people with a higher income. So let’s dive in. Similar…
A new Idea, pay your parents’ taxes, inherit a tax-free Roth
Most retirees are in a lower tax bracket than their working-age children, so if grandma had paid the income taxes on her IRA and converted it into a Roth IRA, then her daughter would have a zero tax burden on the inheritance. This brings up an advanced financial planning idea—perhaps daughters and sons who will…
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