Unlocking Your Financial Future

Ep 26: Should You Do a Roth Conversion?

March 12, 2020

Last episode we provided a basic understanding of Roth conversions. Now it’s time to take it a step further and look at the option from a strategic point of view. Is this something you should be considering for your retirement plan? We discuss who would and wouldn’t benefit and share the conversation we have with clients to help them make the decision.

 

Get the show notes and additional resources here: https://www.baschrock-fg.com/podcast/ep-26-should-you-do-a-roth-conversion/ 

 

Today's rundown: 

1:40 – Getting to Know Ben: What is your favorite sport?

3:54 – A quick summary on what a Roth conversion is.  

4:44 – How does the conversation go with clients to determine whether a Roth conversion might work for them?

5:55 – What type of person would benefit from a Roth conversion?

7:23 – Who probably shouldn’t look at the Roth conversion?

8:35 – There will be tax implications. Here’s what we’re looking at.

10:01 – Contributions versus conversions. Here’s the difference.

11:39 – We consider conversions on a year-by-year basis with clients.