Reply to Roth 401k in 35% Tax Bracket

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I did this but only because I intend to work to at least 70 and income would go up once RMDs kicked in.[/quote]

Not OP but in a very similar financial situation. How did you calculate this? We have about 5M in various accounts and I'm over 50 so doing catch-ups. One financial advisor said do Roth for my catch up b/c taxes might go up after this administration given our national debt. Your point is also interesting. Our HHI from W2 is 500K to 700K bonus dependent. I want to stop working in 7 years.[/quote]

I did as much as I could by selling nonretirement mutual funds with relatively low capital gains to pay for the taxes due owing to the conversion. I first converted the entirety of an old IRA to a Roth IRA so I could do backdoor Roth IRAs in later years and then converted some of my 401k to a 401k Roth. I did make a mistake by overestimating the taxes and ended up with a $40,000 refund that took the IRS two years to pay (Covid backup).

If I were to do it again, I would have consulted a tax CPA to get the tax estimate right as I could have converted even more. Alas, I have no more non-retirement investments and can't think of other tax-efficent ways of doing it. Perhaps worth consulting someone about?

I put all of my 401k contribution into the Roth option. I don't look at my accounts often, but I would say I have about $6 million in my 401k and about $1.5 million in 401k Roth and IRA Roth.[/quote]

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