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re: Am I early retirement ready? Updated
Posted on 7/26/18 at 10:22 pm to B4YOU
Posted on 7/26/18 at 10:22 pm to B4YOU
My tax strategy is to gradually convert 401k balance to Roth IRA while remaining in 12% tax bracket. I can pay the taxes and augment income with previous Roth contributions and by selling taxable investments. As I understand it, long term capital gains is zero until you enter 22% bracket (>$77k+$24k standard deduction). Once converted to Roth I can access contributions penalty and tax free. But I might be misinterpreting the tax rules.
This post was edited on 7/26/18 at 10:23 pm
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