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Art Guide East

Art Guide East

Month: August 2017

Posted on 08/25/201708/05/2019

I know for us personally we went with the standard IRA for just that reason.

Our broker is very aware of our financial plan and has been working very hard to build ours up at the “tax free” level right now. Once dh retires we will row his current contributions into the standard IRA and then only draw out basically the earnings monthly to supplement our other income. At least that is the plan.

Posted on 08/07/201708/05/2019

In terms of tax liability, which would be better for you in retirement?

01ks are pre tax dollars. You pay the taxes when disbursed to you in retirement. In theory, you might be in a lower tax bracket than you are now at retirement.
Roths are contributed to with after tax dollars, and upon disbursement you aren’t taxed again on those dollars.

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  • Due to income and being self-employed with no SEP in place
  • Your figures look correct
  • One thing to add
  • I know for us personally we went with the standard IRA for just that reason.
  • In terms of tax liability, which would be better for you in retirement?

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