Quote:
Originally Posted by sik68
I am young (28, everyone on this forum tells me this is young) and have been biding my time until 2012 to convert my SEP into a Roth IRA...my wife started school, so her not working lowers our tax rate. Seems to be prudent to switch to a Roth early in your investing career or other low tax situations, when your income is less. Give as little to the man as possible.
The Roth cynics have warned me that in the long run, congress will not be able to keep their hands off the Roths and will implement a tax to get us again at withdraw. Can't say I disagree with their cynicism but I'm sure you will still come out way ahead vs. not converting in the first place.
PS Greg, I put some of my money where your mouth is today...did you feel the bump in your portfolio? 
Steven |
Steven -- I agree with RealCoray that the idiots in congress would try to suddenly backtrack on one of the greatest savings inventions of all time... and they'd have legal fights for years from huge groups of people - so I really doubt there's going to be any changes to that program.
On the other note --- I'm glad you're getting started... but my portfolio went backwards today (in the one Schwab account I always use for this thread) because of the Xmas gift I got my lovely wife Gwen -- I'd written a check out of this account to pay for it. BUT -- my bond account rose nicely with a whole slew of interest payments on the first of the year - so all in all a "wash".
