#496 - The Rules for Roth Conversions
Many of us have missed the boat on Roth contributions, but we have another tool to get into Roths: Roth conversions.
If you have been curious about all the hype about Roths you won’t want to miss this series. This month we dive deeper into Roths. In episode 494 we discussed what Roths are, last week we dove into contributions, and this week we demystify conversions. Listen in to learn how you can use Roth conversions to upgrade your retirement.
You didn’t miss out on the Roth opportunity
If you feel like you are late to the game on Roth contributions you need not despair. Many in our vintage missed out on the Roth opportunity. However, there is another way to take advantage of the benefits that Roths can provide. By making Roth conversions you begin to lessen the burden that all of those lurking pretax assets impose on your retirement portfolio. Discover how to perform Roth conversions and how to pay taxes on your conversion press play now.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
PRACTICAL PLANNING SEGMENT
[2:44] I try to keep the main thing the main thing
[3:49] Many of us have missed the boat on Roth contributions
[7:11] How to perform a Roth conversion
[8:45] How do you pay the tax on a Roth conversion?
[14:05] The pros of paying from after-tax assets
[16:22] The downsides of paying with after-tax assets
LISTENER QUESTIONS
[19:05] A rule of 55 clarification
[22:20] What happens if my income is too high to contribute to a Roth
[23:52] How to create a 5-year cash bucket in down markets
[30:13] On creating a bond portfolio ladder
BRING IT ON
[38:12] On relationship building
TODAY’S SMART SPRINT SEGMENT
[43:09] Get out of your normal routine and meet new people
Resources Mentioned In This Episode
Episode 494 - Roth Opportunity
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center