In today’s conversation, we’re going to focus on six key reasons why a Roth conversion might be a game-changer for your financial future. As the dreaded April 15 tax deadline approaches, Mark is here to share why this strategic tax approach makes sense for just about everyone and is a great retirement vehicle to consider.
Here at Howard Financial Group, we believe a comprehensive financial plan includes strategic tax considerations. If your current financial advisor isn’t addressing the tax aspect of your portfolio, it might be time to reassess your approach. Join us as we explore the vast opportunities for savings that effective tax planning can unlock, ensuring a secure financial future even when your paychecks have stopped.
Here’s some of what we discuss in this episode:
- If you’re expecting a higher tax bracket in retirement, a Roth could be a wise choice
- Roths don’t have required minimum distributions
- Tax diversification is important for minimizing tax impacts on Social Security income, and avoiding increased Medicare premiums
- The implications of the SECURE Act on non-spouse beneficiaries + how a Roth IRA can offer tax-free income
- The impact of life events such as death or divorce on your tax filing status
- The benefits of doing a Roth conversion when IRA holdings are temporarily down
Thanks for listening! We’ll be back for another show every other Thursday.