CHAPTER NINE
Putting My Money Where My Mouth Is
I
f you remember back in the introduction to this book, I said this book was my story: it’s the story of how I chose to do something different — something better — with my IRA. To close this book, I want to share with you what I did to over- come the conflicts in my IRA. Following is the strategy I took. I’ve shared this strategy with dozens of leading CPAs across the country, who have all re- sponded with enthusiastic support. (In fact, several of the CPAs have chosen to use this approach with their own retirement funds, and many more have recommended it to their top clients.) In short, they all agree: it works. So, here are the steps I took. First, I completed my analysis. I looked at the total tax liability in my IRA (high), and what that tax liability would be in a tax-free vehicle (much lower). I considered my income and legacy needs (I’d like to have both). I reviewed how likely it was to both grow and protect my funds in today’s market (not very). After my analysis, I decided to take action. Here’s what I did.
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