Andy discussed seven common scenarios where it might be beneficial to do Roth conversions:
- You know your income now is much lower than it will be in the future
- You're married (and may eventually be single)
- You have large pre-tax accounts
- Your eventual heirs are likely to be in higher tax situations than you currently are
- Your plan on moving to a state that will have higher income taxes than your current state
- You're convinced tax rates will increase markedly in the future
- You want greater tax "diversity" amongst your investable accounts
Links in this episode:
- Tenon Financial newsletter summarizing the 7 potential Roth conversion scenarios - here
- Tenon Financial monthly e-newsletter - Retirement Planning Insights
- Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
- YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
- Retirement Planning Education website - www.RetirementPlanningEducation.com
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
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