Until the feds confiscate it. No, I am not stopping nor am I withdrawing, but that fear is still there....
Just sayin’ until it’s determined if they’re going to nationalize IRA/401K accounts, I don’t think I’d be overfunding them. Might as well stash the cash somewhere safe...like under the mattress, :)
When will Obi grant us the “option” of converting our Roth converted IRAs to social security?
One of the advantages of a taxable investment account is that it enables you to take advantage of “paper losses” that may be incurred when you sell shares to re-balance your portfolio. I’m surprised the article didn’t mention this.
because they are expecting to confiscate all funds in those accounts
on a side note... while looking for a recent quote, i was astonished to see how many times this subject has been broached since 2008. they are pushing on it... just trying to find the right way in.
I think this article missed an important point for some investors. I am in a similar situation - fully funding 401(k, ineligible for Traditional (deductible)IRA and above the income limits for Roth IRA.
My choice has been to begin making an after-tax contribution of $6000 to a non-deductible IRA (no other, non-Roth IRA’s to confuse matters - already converted those), then convert to a Roth IRA. It bypassed the income limits in a perfectly legal way and allows me to grow this money, tax-free.
Anyone see a problem with this?