CFG Retirement Group Website and Phone Number:

 https://cfgretirement.com/   (952) 657-7470.

Our complimentary tax guide can be found here: https://cfgretirement.com/taxguide

Vince Oldre of CFG Retirement is just back from a convention, where he heard Ed Slott speak. Ed is one of the country's thought leaders on retirement planning, and he says investors should act before the end of 2021 and a likely increase in taxes.

Today, Vince and Jag break down some of the tools available to protect yourself against an increase in taxes.   Conventional wisdom used to be that you should defer your taxes until retirement, when you'd likely be in a lower bracket. But with what the federal government has had to spend recently (and still could spend), there's a strong chance you could be in a higher tax bracket later.

A great way to protect yourself against higher taxes in the future is through a Roth conversion. Any money you convert now will be tax free going forward, no matter where tax brackets land.  Vince walks us through the numbers, and explains why he feels some of the arguments against Roth conversions simply don't hold water.

We also talk about PayPal executive Peter Thiel.   He took a $2,000 investment and turned it into $5 billion tax free. That's an extreme example, but something worth noting.

With the recent debate in Congress over the debt ceiling (we recorded this on October 6th), taxes could very well be going up. We will talk about that in our next episode.