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3 Considerations before Making a Roth IRA Conversion
Roth accounts are an amazing tool when it comes to creating wealth. Roth IRAs are not subject to probate and can be passed on to heirs tax-free. They also grow tax-free! If you're considering a Roth Conversion, Peter with Richon Planning and Erin Kennedy walk through 3 key considerations:
1. Your future tax rate
2. When will you need to access the funds?
3. Your beneficiary's future tax rate
Keep in mind, we are living in a historically low tax rate. Many financial experts believe that the Tax Cuts and Jobs Act of 2017 reduced federal income tax rates to the lowest level they may ever be, and those cuts are set to expire at the end of 2025. In other words, there has never been a better time to determine if a Roth Conversion is right for you.
If you'd like to crunch the numbers with Peter, please call (919) 300-5886 or visit www.RichonPlanning.com
#WealthManagement #Roth #RothConversion #FinancialAdvisor #Taxes
💰💰💰 Financial confidence through educated planning💰💰💰 Be SMART with your money with Peter Richon at Richon Planning!!!
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By Richon Planning
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Roth accounts are an amazing tool when it comes to creating wealth. Roth IRAs are not subject to probate and can be passed on to heirs tax-free. They also grow tax-free! If you're considering a Roth Conversion, Peter with Richon Planning and Erin Kennedy walk through 3 key considerations:
1. Your future tax rate
2. When will you need to access the funds?
3. Your beneficiary's future tax rate
Keep in mind, we are living in a historically low tax rate. Many financial experts believe that the Tax Cuts and Jobs Act of 2017 reduced federal income tax rates to the lowest level they may ever be, and those cuts are set to expire at the end of 2025. In other words, there has never been a better time to determine if a Roth Conversion is right for you.
If you'd like to crunch the numbers with Peter, please call (919) 300-5886 or visit www.RichonPlanning.com
#WealthManagement #Roth #RothConversion #FinancialAdvisor #Taxes
💰💰💰 Financial confidence through educated planning💰💰💰 Be SMART with your money with Peter Richon at Richon Planning!!!