Is your IRA non-Roth or Roth? If non-Roth, consider now a good opportunity to convert to Roth under the new law. You will pay the extra income tax next year, but no penalty, and over the course of the next twenty plus years, your tax savings could be huge with Roth going forward being non-taxed income. I’m have been in the process of doing so for myself this week. Fingers crossed I live that long, my savings in taxes during retirement is in seven figures. But I have actually been looking for this correction as I had my retirement folks do all the analysis for me ahead of time. With the correction, I have converted about 15% more of my non-Roth shares for the same price than if the market had not corrected.
That’s a really good idea. Thanks for that.
That implies much about the total value of your portfolio, FRiend.