Many people have different types of retirement accounts, such as 401ks 403bs or otherwise IRAs. Does your retirement account need a bypass from the IRS? If not, you may have an immediate tax attack in the future.

Right now the current income tax levels are at historic lows compared to where they were. In 1941 to 1963 the highest income tax rate in the United States was 94%. In 1964 through the mid-80s the highest income tax rate averaged over 70%. And in the early 90s the tax brackets were as high as 55%. Only in 2003 did the highest tax bracket drop to a historic low of 35%. You should strongly consider buying out your junior partner, before the IRS becomes your senior partner.

However, a Roth isn’t for everyone. If you’re depending on your retirement accounts to pay your everyday expenses, chances are you may dilute the account by paying taxes that are due on this account and you may end up hurting yourself. So you should seek the advice of a Retirement Phase Advisor who has been schooled on IRA laws.

This is a critical time in our country’s economy, and you should get educated on what is known as a Roth conversion. A Roth conversion is a vaccine shot that will make your IRA, and all retirement accounts, immune to any federal tax increase in the future. And not just for the owner’s lifetime, but for three generations— right down to the owner’s grandchildren.