IRA/401K/Qualified Plan Consulting
Have you ever heard of the “IRA Tax Bomb?” This is the approximately $10 Trillion USD of assets held in qualified plans in the US (IRAs, 401Ks, etc) It is no secret that when people turn 70&1/2 they are required to take required minimum distributions from their qualified plans. This distribution percentage increases over time and must be withdrawn whether you need it or not. Every one of these dollars is taxed at your personal income tax rate, which may get bumped into a higher bracket with this excess income.
We can often save many thousands of dollars in potential tax liabilities. The questions that must be answered are, what is the purpose of the IRA/401K, and would the investment be needed as a future income source? What makes more sense? To maintain a traditional IRA/401K, or look to another strategy such as Partial Roth Conversion or Strategic Rollout? We’ll run an analysis of the effects for each on your portfolio and then you decide.
Other qualified plan services we offer include:
- 401K and IRA rollover and Roth Conversion
- Consolidating various qualified accounts for easier management & simplicity
- IRA/401K rescue-recovering lost value in IRA & guaranteeing principal