Roth IRA Conversion Pros and Cons in 2024

In this video, CERTIFIED FINANCIAL PLANNER™️ Professional Colin Exelby discusses the most powerful way to build tax-free wealth. There used to be an income cap. But, that tax law was changed back in 2010 to allow anyone the opportunity to convert. But… that
huge advantage may be slipping away.

As a reminder, if you have Traditional IRA assets, you took a tax deduction at some point in the
past and you will owe taxes on those funds at some point in the future… and Congress is
counting on it, salivating at the chance to grab a large portion of those assets.

As we learned in Part 4 of the series, A Roth IRA allows for tax-free growth, tax-free
distributions and tax-free transfer of the assets to your heirs.

In part 5 we are talking about conversions. A conversion is where you elect to move assets
from your traditional IRA to your Roth IRA, pay taxes now at the historically low tax rates and
then never be taxed again.

Stick with me and I’ll explain:
Why Roth conversions are so important to the zero percent tax bracket in retirement and why the clock is ticking on this tremendous strategy

Timestamps :

00:00 Introduction
01:57 Converting Traditional Retirement Accounts to ROTH Accounts
03:18 The Sweet Spot for Roth Conversions
04:07 Roth IRA Conversion In 2022
05:37 Roth IRA Distributions Don’t Count As Provisional Income
07:05 How Should You Pay the Tax on Roth Conversions
07:45 The Importance of the Roth 5-Year Rule
08:55 When Does a Roth Conversion NOT Make Sense?

★☆★ Part 1: How to Keep Your Social Security Tax-Free ★☆★
   • Social Security Tax-Free? These Advan...  

★☆★Part 2: Why Current Tax Rates Are So Attractive for Planning ★☆★
   • CREATE Tax-Free Income By Using the C...  

★☆★Part 3: How Much Should You Have in Your Retirement Accounts to Create a Tax-Free Income? ★☆★
   • How to Calculate Your Ideal 401k Valu...  

★☆★Part 4: Why the Roth 401(k) and Roth IRA are so Important to a Successful Retirement Plan ★☆★
   • Tax-Free Wealth: The Roth IRA and Rot...  

[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.

I provide financial planning for business owners and their families that makes sense.

Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be.

We strive to help you:
*Optimize Your Cash Flow
*Minimize Your Taxes
*Build Your Net Worth
*Create a Lasting Legacy

➡️ ➡️Free Guide Here: https://celestialwm.com/ptpebook-go/⬅️⬅️

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