Wealth strategies with Roth IRA conversions. We are living longer while “guaranteed” lifetime income sources, such as pensions, decline. The retirement savings challenge. And the responsibility for investment and lifetime income has shifted to the individual. Retirement plans and IRAs.
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And the responsibility forinvestment and lifetime incomehas shifted to the individual.
Retirementplans and IRAs
Up to 85% included in taxable income
Generally taxedas ordinaryincome
Taxed basedon underlying investments
Increase in the individual portion of the Medicare payroll tax on wages from 1.45% to 2.35%
New Medicare investment income tax of 3.8%
Will affect interest, dividends, capital gains, rental income
Distributions from retirement accounts are excluded
Interest from municipal bonds not affected
Targeted at individuals with more than $200K income (couples with $250K income)
Annual U.S. federal budget surplus/deficit, 2000–2012 ($B)
Source: Congressional Budget Office, Monthly Budget Review, September 2012.
Total U.S. population age 65+
Source: U.S. Census Bureau, Facts for Features, March 2013.
A WORLD OF INVESTING
A COMMITMENT TO EXCELLENCE
EO013 280390 3/13
This information is not meant as tax or legal advice. Please consultyour legal or tax advisor before making any decisions.
Putnam Retail Management putnam.com