The reality of taxes in retirement starts to become more evident the closer you get, and it’s not uncommon for people to wish they had contributed more to a Roth while they were saving. Having those tax-free withdrawals in retirement is wonderful, so what can you do if you find yourself in this position?

That’s the question we’re going to tackle in our latest Money Wisdom question series. Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® will break down the Roth conversion and discuss the factors you need to weigh before deciding to convert any money. With it being the end of the year, this is the perfect time to be having this conversation.   

If you want to learn more about tax planning strategies, make sure you get a copy of  the "Are You Paying Too Much in Taxes in Retirement?" booklet. Text the word OFFER to 800-757-0436 to get a complimentary copy. This guide can help retirees assess their tax situation and explore strategies to optimize their savings.

Here’s what we discuss in this episode:

0:00 – Intro

0:54 – Today’s question

1:39 – What is a Roth conversion?

2:57 – How to get money into a Roth

4:34 – Main consideration

 

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