Should You Consider a Roth Conversion Before Retirement?

Roth Conversions can be one of the best strategies to create tax-free income in retirement. And those accounts can grow tax-free indefinitely because they don't have required minimum distributions. In this video, Jordan with ‪@WFSTA‬ and ‪@erinkennedytv‬ talk through the pros and the cons of converting your tax deferred accounts to Roth accounts while you're still working. Keep in mind, when you convert those funds, you'll need to pay the taxes upfront, and it's best if you can pay that bill in cash (Pro: if you're working, you may have more financial flexibility). But keep in mind, those dollars are also counted as taxable income, which, without proper planning, could push you into a higher tax bracket. There is no cookie-cutter answer to this question; the answer will depend on your current tax bracket, your projected future tax bracket, and your unique financial circumstances. If you'd like to crunch the numbers with our team, please call us at 847.499.3454 or visit www.WFSTA.com #RothConversion #WealthManagement #Taxes #TaxPlanning #FinancialAdvisor #wealthtax #wealth #roth #rothira #financialeducation