Roth Conversion & Tax Planning Impact - In My 40's with over $1 Million In My Retirement Account

Should I think about a Roth Conversion and tax planning? I have over $1 Million in my retirement(IRA) account. What kind of impact will it have on my overall balances when I retire. When will my balances catch up and what kind of Tax impact will it have on my taxes in retirement? 00:00 Introduction 02:34 Today’s Example 04:03 Doing The Roth 06:21 When Do Your Account Balances Catch Up? 07:31 Required Minimum Distributions 08:52 No Conversion Strategy 12:51 Fear for The Future of Large IRA Balances 15:12 Take this Info With a Grain of Salt 16:32 Comment, Like, and Subscribe! Working with a CFP® professional can be an important step toward reaching your financial goals. Not only do these advisors meet rigorous education and experience requirements, but they are also held to some of the highest ethical and professional standards in the industry. Education CFP® professionals must master nearly 100 integrated financial planning topics, including: Investment planning Tax planning Retirement planning Estate planning Insurance planning Financial management In addition to completing a comprehensive financial planning curriculum approved by the CFP Board, or equivalent academic coursework, CFP® professionals are required to complete continuing education coursework, including a CFP Board approved code of ethics course, to ensure their competence in financial planning. Examination CFP® candidates must pass a comprehensive 6-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. The exam is notoriously difficult and only 64% of people who took the exam in 2017 passed. Based on regular research of what planners do, the exam covers: Establishing and defining the Client-Planner relationship Gathering information necessary to fulfill the engagement Analyzing and evaluating the client’s current financial status Developing recommendations Communicating recommendations Implementing recommendations Monitoring the recommendations Practicing within professional and regulatory standards Experience CFP® professionals must have a minimum of three years experience in the personal financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge. Ethics As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct. This video discusses fixed income investing and utilizes the 10 year U.S. treasury as a general representative fixed income investment. Conclusions reached, opinions stated, and downside risks and potential returns presented should not be construed as applying to other types of bonds or fixed income assets. Other types of fixed income products carry different levels of risk and return potential and should be evaluated as an element of a diversified portfolio with your specific risk tolerance, investment objectives, and timeline in mind. Nothing in this video is investment advice, an investment recommendation, or an offer to buy or sell any security. Investing involves risk. Do you need a retirement plan beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at (877) 404-0177 or fill out this form for a free consultation: https://click2retire.com/40swith1mill