Roth IRA Tax Break Lures 10% of Millionaires

(Bloomberg) -- Congress dangled an incentive for high-income Americans to convert their tax-deferred individual retirement accounts into post-tax plans. Their response was overwhelming.

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Comments (1)
"Their response was overwhelming" ..... errr, 90% of millionaires opted NOT to convert to Roth.

"It's the cheapest estate planning you can find," Rowley said. .... Maybe you get what you pay for....

"You're paying the taxes for these beneficiaries." .... Yes! - Daddy Millionaire pays a 39% highest tax bracket on the conversion so that Baby M, a school teacher in a 20% bracket, pays no tax.

The real story (unreported) is why 90% of Millionaires opted OUT of the "Deal"
Posted by mark k | Monday, January 06 2014 at 2:35PM ET
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