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https://preservewm.com
We've been keeping up with the latest headlines...
here are two of our favorites worth sharing.
** Your Money
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Bear markets can be stressful. However, deep market downturns can also create favorable tax planning opportunities, including the ability to maximize 'discounted' Roth conversions.
For investors already planning to make a Roth conversion, a declining market effectively puts the conversion 'on sale' by converting a more significant percentage of the traditional IRA to a Roth IRA where it will never be taxed again.
While individuals at any income level can complete Roth conversions (unlike making Roth IRA contributions), it doesn't mean they should. Since Roth conversions are taxable in the year made, investors need to consider their current tax rate, their tax rate after considering the conversion, and their future expected tax rate.
The decision is unique to each situation. If this is something you would like to dive into deeper, don't hesitate to get in touch with me.
Discounted Roth Conversions During A Bear Market Decline (https://www.kitces.com/blog/roth-conversion-bear-market-downturn-tax-savings-cost-conversion-averaging-isolate-ira-basis/?utm_source=ActiveCampaign&utm_medium=email&utm_content=RSS%3AITEM%3ATITLE+++%5BNEV%5D&utm_campaign=NEV+Wednesday+Email)
by Adam Van Deusen and Michael Kitces
** Your Life
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For many people, planning for retirement includes finding the right location, picking out a retirement community or new house, planning trips, enrolling in classes, starting new hobbies, etc. However, some people combine everything and take a never-ending cruise and love the lifestyle. After all, cruise ships provide a roof over your head, daily meals, entertainment, activities, and travel. You might not get the tax advantages, investment, or equity in owning your own home. Still, you don’t have to worry about many other things like upkeep, repairs, monthly association fees, cleaning, property taxes and insurance, and more. Something to consider? Maybe. This article highlights three retirees that live on cruise ships.
Meet the Retirees Who Live on Cruise Ships (https://www.cntraveler.com/story/meet-the-retirees-who-live-on-cruise-ships)
by Laura Kiniry
https://www.linkedin.com/in/danheth/
https://www.linkedin.com/in/rosalynn-harvey-heth-mpa-ceps-3a3aa3191/
** Complexity Simplified
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Dry cleaning is an easy and safe way to clean and care for your special, more expensive clothes, but, over time, dry cleaning expenses can add up to a lot of money. Here are 9 ways to clean your clothes in lieu of or to go longer in between drying cleaning trips.
Dry Cleaning And Washing Secrets to Keep Your Clothes Looking Fresh and Brand New (https://drivecleaning.com/dry-cleaning-and-washing-secrets-to-keep-your-clothes-looking-fresh-and-brand-new/)
source: Drive Cleaning
** Trivia
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A: Koalas
Q: A tick bite can make you allergic to what food?
https://www.youtube.com/watch?v=uSu6tcbMOu0
** Back in 1972, this song reached #1
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