Newsletter Archive

Marotta On Money- January 12, 2010


Taxes and Tax Management

Last Chance for a Segregated Roth Conversion (01-11-2010)

A tax tsunami is coming at the end of this year. The higher your adjusted gross income (AGI), the closer you live to the coast where the tsunami will hit. This is the last chance you will have to put your assets in a lifeboat and avoid getting swamped with taxes. At the end of 2010, the Bush tax cuts will expire. The Obama administration is not expected to alter the rates significantly before then. They don't want to be held accountable for raising taxes before the midterm elections. And they would rather blame the previous administration for a crazy expiring tax law.
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Decide to Be Rich (04-07-2008)

It used to be that becoming a millionaire was regarded as a huge achievement. In today’s dollars, however, it is fairly trivial. According to the Department of Labor’s inflation calculator, $1 million today was worth only $183,285 in 1970. But $1 million in 1970 had the same buying power as $5,456,005 today. That’s the new rich: over $5 million. Depending on your lifestyle, if you have amassed $1 million at age 65, you may not even have enough to retire. At age 65, you can withdraw only 4.
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