Tell this person to post on the board, or hire an accountant. You'd need access to a lot (or all) of their financial information to even posit a recommendation.
But based on your post, if he's still working in his 70s (and presumably collecting social security) in general the window to make low-tax Roth conversions is closing or closed. That doesn't mean there won't be some benefit, but it's likely to be marginal, perhaps a few percent in tax saved. If this person is over 70 then RMDs will begin within two or three years. Probs to late.
But based on your post, if he's still working in his 70s (and presumably collecting social security) in general the window to make low-tax Roth conversions is closing or closed. That doesn't mean there won't be some benefit, but it's likely to be marginal, perhaps a few percent in tax saved. If this person is over 70 then RMDs will begin within two or three years. Probs to late.
Statistics: Posted by Admiral — Wed Dec 11, 2024 11:23 am — Replies 4 — Views 196