To Roth, or Not to Roth

In this conversation, Alvin Darien and Gary Nolan discuss the pros and cons of doing a Roth conversion. They highlight the reasons why it makes sense, such as being in a lower income tax bracket, having a long time horizon, and estate planning advantages. They also discuss situations where a Roth conversion may not be beneficial, such as being in a high tax bracket, having a short time horizon, and uncertainty about future tax rates. The conversation also covers tips for retirement planning, including saving 15% annually, saving more if you're a late starter, limiting big expenses, maximizing retirement accounts, investing for the long term, and taking advantage of catch-up contributions. They emphasize the importance of budgeting for a long retirement due to increased life expectancy.  He also discusses the challenges faced by the baby boomer generation and the need for comprehensive financial planning. Alvin introduces his book, 'The Eight Financial Breakthroughs,' which offers practical advice for readers of all ages. The conversation concludes with a Q&A segment, addressing questions about Social Security benefits, wise investments, and the role of robo-advisors.

Reach out to Alvin and the team at 888-922-7323 or text GRIP to 600-700

 

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