1. Start Systematically Rolling Over Your 401(K) and IRA Funds to Roth Equivalents
Taxes are basically “on sale” right now, so it’s in your best interest to pay them now than pay more taxes later. Since you’ll likely never have this opportunity again, time to start rolling your 401(k) and IRA funds to Roth equivalents.
Of course, you can’t rush to do this either and you’ll probably need the help of a professional in order to ensure an effortless transition.
But needless to say, you should minimize your tax hit by taking advantage of the current “stair step” tax system.
A financial adviser can help walk you through the whole process so you won’t miss out on historically low taxes even during your retirement.
