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What is a Roth Conversion and Why Should I Consider It?
Manage episode 407219224 series 3558878
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Roth conversions are a great strategy that you can use to help build up your “tax-free” bucket in order to provide you with more flexibility in retirement. Having more tax-free money can help you avoid tax time-bombs, maintain some control of your taxable income in retirement, or even be used as an excellent legacy to pass down to heirs.
More specifically, I discuss:
- Our upcoming “Retirement Planning Today” classes in February 2023
- The main differences between a Roth IRA and Traditional IRA or other pre-tax account
- What is a Roth conversion?
- What are the main reasons to consider doing a Roth conversion?
- Pitfalls to look out for when doing a Roth conversion
- Strategies on how to pay potential taxes owed on a Roth conversion
Resources:
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