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[quote=Anonymous]The number one way to tax shield this for your children is to convert it to a Roth. However, you will need to pay income taxes on any amounts you convert. This could make sense for you, but since any amounts you convert in a year increase your income, you may push yourself into a higher tax bracket. If you are relatively young (say 50), you could start converting amounts now up to the top of your current tax bracket. And of course, to the extent you can make contributions, you could make them to a Roth instead of an IRA. Another strategy you could game out is to wait until you retire but before you collect social security, so you can make the conversions at a time when your income is lowest. Nothing wrong with living past 70! Most people at that age today are healthy and active. And the Roth will be available as a source of income to live on.[/quote]
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