“I’m 60, probably retiring in 5-6 years, and I just learned about Roth conversions. Is this something I should be doing?” This is a listener question we hear a lot, and the honest answer is: it depends. Steve digs into what it actually depends on. Roth conversions aren’t right for everyone, and they’re not wrong for everyone either. The only way to know is to run the numbers on your specific situation, not someone else’s.
Here’s some of what we discuss in this episode:
⏰ Early Conversions: Using time before retirement
📈 RMD Concerns: Reducing future forced withdrawals
✂️ Cash Needs: Paying conversion taxes separately
🎯 Good Candidates: Identifying when conversions may fit
📊 Gradual Strategy: Converting smaller amounts over time
⚠️ Tax Risks: Avoiding oversized conversion mistakes
0:00 – Intro
0:44 – Defining Roth Conversions
2:25 – Advantages for Converting Early
4:55 – Good Candidates for Roth Conversion
8:01 – Strategic Implementation & Estate Planning
10:33 – Risks & Common Pitfalls
12:39 – Client’s Roth Conversion Story
Get your copy of Power Up Your 401K in our toolkit: https://keap.page/ngt919/toolkit.html
Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg
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Other ways to get in touch:
Phone: (775) 266-8867
Our website: https://powerhousefinancialadvisors.com/
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