Could a Roth conversion be right for you?

When does a Roth conversion make sense? Well, it depends. In this video, we discuss the strategic timing around Roth conversions.

You will learn what a Roth conversion is, the mechanics of converting funds from pre-tax to Roth accounts, and reasons someone may want to do a conversion.

We also cover disadvantages of conversions like upfront taxes, potential Medicare surcharges, and effects on Social Security taxation.

When clients are early in retirement, they often have a much lower level of taxable income than later in retirement when they are receiving Social Security benefits and taking Required Minimum Distributions.

Watch the video below to learn more about the pros and cons of Roth conversions.

You will need to evaluate your unique financial situation before doing a Roth conversion. Always consult with your financial advisor to see if it may be beneficial for you.

This content was written by Spencer S. Hall CFP®, RLP ®, CKA ®, MBA, MDiv

Spencer is a Certified Financial Planner™ with 14 years in the field of retirement and financial planning. As a second-generation financial advisor at Retirement Planning Services, Spencer brings a wealth of experience and passion to help clients align their wealth with their core values.

Advisory services offered through Retirement Planning Services, LLC.

The information in this article is intended for general educational and informational purposes only, and should not be construed as investment advisory, financial planning, legal, tax, or other professional advice based on your specific situation. Please consult with your professional advisor(s) before taking any action based on its contents.