Ann (Anne) Tergesen
speaker
47 appearances
1 recordings
1 series
first heard Jul 2023
last heard Jul 2023
Ann (Anne) Tergesen’s voice in public audio — every appearance, attributed to the second.
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Appearances
And often when people inherit money, they're often in their peak earnings years.
Maybe their parents die and they're in their 50s and they're really, they're earning a
at a level that puts them into a higher tax bracket.
And then if they inherit a traditional 401k, they're going to be required to pull money out of that and pay taxes at the high rate that they're in in their peak year.
So in contrast, if that same person inherits a Roth, that's tax-free money, and they don't have to pay any income taxes, the same as with a traditional 401k.
But it's tax-free, so it doesn't cause them to have to pay a huge amount more in taxes.
And all the money is theirs.
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