Income Limits Have Been Removed For Roth IRA Conversions: How Does That Affect Me?
Paul R. Whitacre is a managing partner at WealthyIRA.com. Our vision is to teach others to invest their IRAs and 401(k)s in the deepest discounted Real Estate in decades. Check out more at our http://www.WealthyIRA.com blog and follow us on Twitter at http://www.Twitter.com/WealthyIRA
You may have heard that income limits have been removed on Roth IRA conversions.
This could be some of the best news you ever hear that can actually make you wealthy. I am not kidding. This isn’t a time to be joking about a wealthy IRA or retirement.
You can now do what some of the smartest investors in America do.
You can take advantage of the benefits of a Roth IRA, which include both tax free growth and tax free withdrawals when you decide to retire. Did you hear what I said? You can keep your money tax free and it grows tax free. That is extremely significant.
Minimizing taxes and maximizing retirement savings is something we all better start thinking about more. If the volatility in the market hasn’t shaken your confidence in stocks and bonds, then I don’t know how else to convince you to invest your self-directed IRA in Real Estate.
Some points to think about if you plan on ever retiring:
On taxes: If you think you might be in a higher tax bracket when you retire or you plan to leave savings to your heirs then you should seriously consider a Roth IRA.
Time: The longer your hard earned money stays in a Roth IRA the greater the potential benefits. This includes reaping the unbelievable benefits of compound interest over time.
If you invest in the lowest priced real estate in decades with Your Roth IRA now, you could pay zero taxes when you sell the property at retirement. That means that you buy a home for any amount, let’s say $50,000. In one Real Estate up cycle, if you sell it for $70,000, that’s a $20,000 increase that goes right back into your Roth IRA without any taxation. That would also be an increase of 40% in two years which isn’t uncommon when Real Estate rebounds.
That means that your sales cost you zero taxes! This is taking advantage of the lowest priced Real Estate in decades. And if you haven’t been convinced to capitalize on this once in a lifetime residential and commercial Real Estate down cycle, then remember this: 4 out of 5 millionaires in the United States made their millions in real estate.
Do you want to retire in comfort? Do you want to retire at some point in the near future? Do you want to retire at all?
Set yourself up for a retirement of wealth and riches. Be able to do whatever you want whenever you want in your wealthy retirement.
It is up to you to learn and find out more about converting to a Roth IRA and using it to buy real estate now. If you don’t do it, no one else will do it for you. Take control of your financial future and be sure to maximize your self-directed IRA or Roth potential.
And find out how to make sure you are set for an easy retirement.
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