A Roth conversion can be a great financial tool to manage taxes and pass wealth to heirs, but it’s not always the best option for everyone. While converting a traditional IRA or 401(k) into a Roth IRA allows you to pay taxes now and enjoy tax-free withdrawals later, there are situations where this strategy might not be in your best interest. Let’s explore four key reasons why a Roth conversion may not be the right choice for you.
f you’ve worked hard, saved wisely, and had a bit of luck, you may find yourself with a nest egg to pass on to your loved ones. But did you know that a traditional IRA or 401(k) could be the worst asset to leave behind? For many people, these accounts are the largest assets they’ve built up—but changes in tax laws mean they’re now far less beneficial to heirs. Let’s explore why this is and what you can do about it.
Discover the key financial updates for 2025! From Social Security benefit increases and Medicare premium changes to higher retirement contribution limits and tax bracket adjustments, this guide breaks it all down. Learn how to maximize your savings, leverage new catch-up contributions, and prepare for potential tax law changes. Stay ahead of the curve and make smarter money decisions for the year ahead!
Welcome to the second part of our seven-part series on the keys to retirement success! Last time, we discussed the importance of cash flow in retirement. Today, we’re diving into a crucial aspect of planning for retirement: managing income taxes. Taxes are a fact of life, but with the right strategy, you can reduce their impact on your retirement savings. Let’s break down how you can plan effectively to manage taxes and keep more of your hard-earned money.
From treating some employer contributions as Roth contributions to the potential secondary tax impacts, there are some less common ways Roth-type accounts can benefit you. Today is part 3 of our series on the incredible Roth IRA, we discuss some of those less common ideas
Today we dig into another aspect of Roth IRA’s – the multi-generational impact. Not only can the Roth improve your outcomes, it can be a significant tool for wealth transfer. In this episode, we show you the impact this can have…Spoiler alert, it CAN be significant.
In 1996, the federal government bestowed one of the biggest gifts to retirement savers. It is called the Roth IRA. Put money in on an after-tax basis, and the reward—when done correctly—not paying taxes on any of the earnings. Since then, we’ve seen the Roth expanded to 401k’s and other employer retirement plans. Today we illustrate the incredible power of Roth Accounts.
Today it is Part 3 of our series taxes in retirement. In this episode we look at the planning opportunity our couple, Bill and Janet have to impact both themselves and their daughter. We dig into the potential impact of Roth IRA conversions.
The taxation of your retirement accounts is always a big concern. In part 2, we look at the tax implications of those 401k and IRA Accounts when you die.