David, Re: I'm a CPA who, for years, recommended IRAs to clients because that is the traditional appropriate recommendation -- yet I refuse to contribute to them because I've ALWAYS felt I'll be in a higher tax bracket after retirement than before. While the tax-deferred earnings have value, I want my taxes paid "as I go" so that the government simply cannot have any claim to them. Financially, good or bad, what I've got is mine and will stay mine.
The beauty of the Roth(if the nation sticks to it's current laws about them which I doubt) is, as I'm sure you know, that you put money in after tax and it grows to never be taxed on principal or it's earnings.
Re: The Roth was a good idea. They should have had it 30 years ago.
Certainly. So was indexing IRS for inflation, but the *GOVT* couldn't afford to print money and not tax the press.
But, I still think, for anyone with a projected remaining life of over 10 years, that they should be poking the legal limit into Roth -- even if they have to borrow it.(At reasonable prices, of course, and preferably tax deferred as in a renegotiated mortgage.)
-tgp |
