Could a Roth Conversion Help Optimize Your Retirement Plan?

Apr 2, 2024


Roth conversions can be a powerful retirement-planning strategy. Watch this clip from Retirement University’s online course, “Tax-Saving Strategies in Retirement” to learn how Roth conversions could potentially fit into your retirement plan.

What is a Roth Conversion?

Simply put, a Roth Conversion is the transfer of assets from a traditional retirement account to a Roth IRA account.

What are the benefits of a Roth Conversion?

  • Once your traditional retirement funds are converted into a Roth account, they can grow tax-free.
  • If your funds were to remain in a traditional IRA, you would pay taxes when the money is withdrawn in the future. When you make a Roth conversion, you pay the taxes on the converted assets today. This is often seen as a benefit of Roth conversions because tax rates could increase in the future.
  • If you leave your retirement assets to a beneficiary, consider that they could be in a higher tax bracket in their working years than you are in your retirement. By converting traditional IRA funds to a Roth account and paying taxes now, you could potentially save your beneficiaries from higher taxes when they withdraw those assets.

Roth conversions could have a profound impact on your tax planning and estate planning strategies. Remember, a Roth conversion is just one element of your overall retirement plan. We recommend reviewing your comprehensive retirement strategy with a financial planner to see if Roth conversions could be a good fit for you and your family.

We encourage you to learn more in the full “Tax-Saving Strategies in Retirement” online course!

Remember that you don’t have to figure this out on your own. You can schedule a complimentary one-on-one consultation with a financial planner at The Retirement Solution!

Investment advisory services and insurance services are provided through The Retirement Solution LLC, a Registered Investment Advisor.
The general views outlined in this material are those of The Retirement Solution LLC and should not be construed as individualized or personalized investment advice. The information presented is for educational purposes only developed from sources believed to be providing accurate information. It is not intended to make an offer or solicitation for the sale or purchase of any specific products, services, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Insurance and Annuity product guarantees are subject to the claims-paying ability of the issuing company. To comply with IRS Regulations, we are informing you of the following: Any discussion or advice regarding tax issues contained in this video presentation was not intended or written to be used, and cannot be used, to avoid taxpayer penalties. Anyone viewing this presentation or contemplating a transaction discussed in this material should seek advice based on your circumstances from an independent tax advisor. Information is not intended to provide specific legal or tax advice.
The information in this material is not intended as tax or legal advice. Be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed.


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