Roth Conversions Part I: What Is a Roth Conversion? (Plan For Retirement!)
Roth conversions can be a very powerful tool when it comes to successful retirement planning.
We will cover the two types of retirement money and explain what a Roth conversion is and how it will impact your taxes.
A Roth conversion is radical delayed gratification. Performing one is the ultimate extreme in sound financial planning. Why is this the case? Because whatever you convert will cost you in taxes NOW. You do a conversion because you know the prepayment of retirement taxes will be worth it in the future.
If you've ever thought about a Roth conversion, and want to know more--this is the stream for you!
Remember, Financial Freedom is found through Discipline 👏
01:56 – Stream starts
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Timestamps:
01:56 – Stream starts
03:41 – Roth vs. traditional retirement accounts
08:25 – How Roth conversions work
09:41 – Roth conversion example
13:08 – The benefit of a Roth conversion
17:45 – Why I recommend using a Roth IRA
20:21 – Next week sneak peak: How to minimize tax impacts of Roth conversions
#rothira #retirement #financialfreedom
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