I’m 76, 68.9% of my IRA is in Roth, my mortgage was paid off in 2023.
So I now have some extra cash to invest each year. I live in what I call my Sweet Spot, my taxable income is at the top of my 12% tax bracket. 12% plus 85% SSB taxation is a 22.2% tax bracket while 22% plus 85% taxation is a 40.7% tax bracket.
Moving forward I plan to do whatever Roth conversion I can do using any extra cash to pay the taxes. I also plan to start a standard brokerage account where I can try to create some LTCGs which will only be taxes at 10.2%, the gains are tax free but the 85 cents per dollar of income is taxable.
Simple question to the group! Where is a good place to look for possible stock investments that have a good potential to create LTCGs?
So I now have some extra cash to invest each year. I live in what I call my Sweet Spot, my taxable income is at the top of my 12% tax bracket. 12% plus 85% SSB taxation is a 22.2% tax bracket while 22% plus 85% taxation is a 40.7% tax bracket.
Moving forward I plan to do whatever Roth conversion I can do using any extra cash to pay the taxes. I also plan to start a standard brokerage account where I can try to create some LTCGs which will only be taxes at 10.2%, the gains are tax free but the 85 cents per dollar of income is taxable.
Simple question to the group! Where is a good place to look for possible stock investments that have a good potential to create LTCGs?
Statistics: Posted by PapaGeek — Fri Feb 02, 2024 6:57 pm — Replies 2 — Views 248