Ep 28: Understanding Roth Conversions as a Planning Strategy

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With taxes at historically low levels, many people have turned to Roth conversions as a planning strategy. Is this a smart option for you? What all should you consider when it comes to conversions? Let’s breakdown the pros and cons and explain how the process would work for you.


Read more and get additional resources here: https://principalpreservationservices.com/ep-27-understanding-roth-conversions-as-a-planning-strategy/ 


Today’s rundown: 

1:18 – Roth conversions are a topic we talk about a lot in the planning process.  

2:37 – What is a Roth conversion?

3:33 – Why might this be especially helpful for high-income earners?

5:04 – Mike explains tax considerations for a Roth conversion?

6:09 – What are the common mistakes people make with a Roth conversion?

7:25 – Who is someone that might benefit from this strategy?

8:48 – This is a great way for people wanting to leave money to their kids through a retirement account.

9:39 – Who else should not consider a Roth conversion?

10:49 – A common mistake we see people make relating to RMDs.                                                       

11:48 – Every situation is different and you need a personal plan.

13:16 – Mailbag question: I have several thousand in company stock that I want to cash in and put towards land to build a vacation home. Is there any reason I shouldn’t do that?

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