Investing

Early Retirees: Why Now Is the Time to Convert Your IRA to Roth

1 day ago Financial News

#RetirementPlanning #EdSlott #RothConversions

Tax expert Ed Slott talks with Christine Benz about when Roth conversions make sense, why the years before RMDs can be especially advantageous, and how to handle the tax bill.

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00:00:00 Introduction
00:00:22 Benefits of a Roth IRA Conversion
00:04:45 Tax Planning Considerations for Beneficiaries
00:07:50 Taking Advantage of Lower Tax Brackets Before RMDs
00:09:09 Prioritizing Retirement Income Needs Over Roth IRA Conversions
00:09:57 How RMDs Affect Roth Conversion Strategies
00:11:14 Using Non-IRA Assets to Cover the Tax Bill

Watch more from Morningstar:

Ed Slott: Don’t Waste Your Low-Tax Years in Retirement https://youtu.be/lUxqeC3vx0o

Retirement Planning for Parents Raising a Child With a Disability https://youtu.be/9Sh8LW3s7Wk?si=5D00y8gbZj6e9Irc

One Income, Two Retirements: How Couples Can Protect Their Future https://youtu.be/5-wL2tjberU?si=u2_khCR7YjpbpylK

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