19 Sep How Roth Annuities Can Eliminate Your RMD Problem: The Downside of Traditional IRAs
Converting Your IRA to a Roth Annuity
Required Minimum Distributions (RMDs) are one of the least-liked features of traditional IRAs. Once you hit age 73, you’re required to start taking out a certain percentage of your IRA, whether you need it or not. And guess what? Every withdrawal is taxed. According to a Fidelity study, RMDs force many retirees into higher tax brackets, costing them more than they’d anticipated. That’s where a Roth Annuity can save you from this unpleasant surprise. (How Roth Annuities Can Eliminate Your RMD Problem)
Roth Annuities are not subject to RMDs or income taxes. That means you can let your money grow tax-free as long as you want and take it out only when you need it and without taxes. No more forced withdrawals, no more surprise tax bills.
For example, let’s say you have a $600,000 IRA. Starting at age 73, you might be required to withdraw $24,000 or more each year, and all of it will be taxable income. By converting to a Roth Annuity, you avoid these mandatory withdrawals and keep more control over your financial destiny. You can plan around when you actually need the money, and the income will be tax-free when you do take it out.
Converting your IRA to a RetirementPAYDAY Roth Annuity is a powerful step toward securing a tax-free, reliable income in retirement. With this strategy, you can protect your assets from tax hikes and market fluctuations while locking in lifelong financial peace. Don’t let taxes eat away at your retirement—take control of your future today with the RetirementPAYDAY Roth Annuity.
For more insights on retirement planning and converting your IRA to a Roth RetirementPAYADAY Annuity, check out our other related articles here:
- Converting Your IRA to a Roth Annuity Can Save Your Retirement – The Policy Shop
- Q&A: Converting an IRA to a Roth Annuity – The Policy Shop
- The IRS Won’t Tell You This: How Roth Annuities Offer More than Just Tax-Free Income – The Policy Shop
- Benefits of Converting Your IRA to a Roth Annuity – The Policy Shop
- IRA to Roth Annuity: The Inflation-Proof Retirement Plan You’ve Been Looking For – The Policy Shop
- Why Converting to a Roth Annuity Makes Sense Now: Protecting Your Retirement from Market Volatility – The Policy Shop
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