Today's episode of The Power of Zero Show revolves around a question host David McKnight gets asked all the time: "Should I still be doing Roth conversions in my 60s, even if I'm already retired?"

In short, David believes that you should not only do a Roth conversion in your 60s, it's actually one of the most optimal times in your entire life to do it.

When doing a Roth conversion, you're choosing to pay the IRS its portion of your IRA now, on your terms, instead of paying it a much larger portion later, on their terms.

That's why Roth conversions don't only make sense for younger people but for retired folks too.

Remember: with Roth conversions, you're not catching up because you're not behind. You're locking in a lower tax rate today to avoid a much higher tax rate down the road.

David explains why the so-called "retirement income valley" is a strategically perfect time to do a Roth conversion.

The 32% tax bracket is David's least favorite tax bracket, which he recommends avoiding at all costs when doing Roth conversions.

David touches upon the Penn Wharton Budget Model and why 2040, or so, will be the do-or-die date for these matters.

What if you don't have extra cash sitting around? Would you still need to pay the taxes on your Roth conversion out of pocket? David illustrates what you can do if you find yourself in that situation.

David goes over why you should want to get as much of your IRA into Roth as you possibly can – and what's the beauty of doing that in your 60s.

Mentioned in this episode:

David's new book: The Secret Order of Millionaires

David's national bestselling book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track

Tax-Free Income for Life: A Step-by-Step Plan for a Secure Retirement by David McKnight

DavidMcKnight.com

DavidMcKnightBooks.com

PowerOfZero.com (free video series)

@mcknightandco on Twitter

@davidcmcknight on Instagram

David McKnight on YouTube

Get David's Tax-free Tool Kit at taxfreetoolkit.com

Congressional Budget Office

Penn Wharton Budget Model