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What Trump's Election Means for Your Roth Conversion Strategy
About this Episode
David McKnight describes the Trump tax cuts situation before Trump's victory at the 2024 presidential elections.
There's likely going to be changes under a new Trump administration – something that David sees as great news.
When it comes to Roth conversion strategy, David is a believer in two things.
The first is to convert your money slowly to avoid rising into a tax bracket that gives you heartburn.
The second is to convert your money quickly enough to get all the heavy lifting done before tax rates go up for good.
While the posting of the end of the Trump tax cuts to 2032 would be good for American citizens, there's a big downside for the country as a whole.
Several experts have predicted a need for a tax rate increase to prevent the U.S. from going broke as a country.
Eight more years with historically low tax rates would be especially critical for pre-retirees and retirees looking to shield their retirement savings from a predicted spike in tax rates in the future.
David shares something he believes can dramatically increase the likelihood of retirees having their money last as long as they will.
Mentioned in this episode:
David's upcoming book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track
David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
PowerOfZero.com (free 3-part video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
David McKnight on YouTube
Get David's Tax-free Tool Kit at taxfreetoolkit.com
Hosts & Guests
No transcript available for this episode.
