Ed Slott

And for purposes of the Cure Act minor child exception, the applicable age is 21, not 18.

Got questions for us on those type of questions, we are part of Ed Slott's elite IRA group, have been a charter member over 20 years, 21 years actually this year.

We spend four days, two days at a time at meetings.

Next one we'll have in Nashville here in November.

Because one of the questions you need to ask is will future tax rates be higher or lower than the current tax rate? Forget about your particular situation and, whether you're going to move up or down into a particular tax bracket.

But will the tax brackets change over time? And many people, particularly Ed Slott, talk about the ticking time bond because we have a national debt that is skyrocketing.

And a lot of people like Ed Slott believe rates are going to have to increase rather than fall over the next 30 years to help take care of that debt.

Now that's a judgment call you have to make because to be honest, throughout most of my lifetime, I've been hearing the national debt is going to cause taxes to go up, but actually tax rates have come down a bit over the past 30 years.

You are paying less in taxes today than you were 30 years ago.

But you have to look ahead.

You have to look ahead to when you have a different tax situation, and enjoying zero or m- minuscule taxes now, is that gonna come back to haunt you later? To what Ed Slott calls the ticking tax time bomb, essentially, where later on distributions are gonna come from fully taxable sources, and those distributions are gonna be thrust upon you as RMDs are being forced from what he has here in his IRA.

So I was then, uh, happy to hear that he was looking at taking advantage of some reasonable brackets early on, although that will sacrifice the tax-free status of his Social Security, uh, if he, if he does that.

But I think it's likely, um, good you'd wanna maybe try to do some tax calculations on your own to look at this.