Does it make sense to convert my 401k & IRA to a Roth IRA while still working?

In This Video:

If you’ve been saving the majority of your money into a 401k or an IRA while you’ve been working, you’ll soon have the realization that none of that money has been taxed yet. That’s why we frequently get asked whether it’s a good idea to use a Roth conversion while you’re still working to move some or all of that money into a Roth IRA.

Things to Consider:

The decisions you make today could potentially save or cost you hundreds or thousands of dollars in retirement and a Roth conversion is one of those strategies that could have a significant impact. This is a common exercise we go through with our clients so we’ll take you inside some of those conversations to help you understand how to come to that decision for yourself.

Plus, Scott will share an example that might often surprise people, but it will illustrate the importance of tax planning now.

Here’s what we cover in this financial video:

0:00 Intro

1:10 – How does Social Security work?

3:09 – Change #1: Reduce by 23%

4:04 – Change #2: Change retirement age

4:40 – Change #3: Increase tax

5:00 – Change #4: Increase the benefit base

5:44 – Change #5: Recalculate cost of living adjustment

6:43 – What this means to your claiming strategy


FREE Guide to Unlocking Hidden Tax Opportunities: 

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