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Old 03-08-2018, 02:06 PM
Klaymen's Avatar
Klaymen Klaymen is offline
Join Date: Oct 2001
Studying for this space for rent
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Originally Posted by E View Post
2. I still agree with my 2006 self on future taxes and believe the current "tax reduction" is mostly short-term illusion.
I shifted my 401k to 50% Roth and should probably shift it to 100% Roth and enjoy the 12% marginal tax rate.

I think it will be interesting in 10 years when the temporary component of the tax cuts will be set to expire. Will our situation be bad enough and will we have the right people in office so that it is allowed to expire? That will probably be the first step towards higher tax rates in this country.

$18,500/yr x 3% tax savings = $555/yr. Of course that benefit could compound.

My liquid retirement assets are approximately:
49% taxable IRA/401k accounts
35% Roth IRA/401k accounts
15% investment accounts whose gains are taxable
1% HSA accounts

I'm just thinking to myself here. I retire and withdraw $60,000. 35% of that comes out of a Roth, so $39,000 is non-Roth. $24,000 standard deduction so $15,000 is taxable. That is taxed at the 10% rate, so $1,500. I can live with that.

It could all certainly change. I would like to retire at or before age 60 with $2M+ of retirement assets, and I think that watching how this tax thing unfolds in under 10 years will have a big impact on exactly how soon retirement day arrives.

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