Roth Conversion Strategies "Meant to Sell Books and Not Help You"? - YMYW Responds

Get your free copy of Ed Slott's book when you schedule a free assessment with an experienced financial professional: http://bit.ly/PureAssessment Watch the Ed Slott interview:    • Most Common Retirement FAQ Answered W...   Listen to the Ed Slott interview:    • Good Tax Planning Can Save You HOW Mu...   Office locations: https://bit.ly/PureLocations Ask Joe & Big Al On Air: https://bit.ly/AskJoeAndBigAl Subscribe: http://bit.ly/YMYW-YT Follow the YMYW podcast: https://lnk.to/ymyw Joe Anderson, CFP® and Big Al Clopine, CPA address the following critical comments from Keith regarding our interview with Ed Slott: "The reason the government loves Roth is they get their tax up front and can invest that instead of you investing it. Hello. Who is short sighted? In case there is any question with the math. You are 60 today and convert $100k today in the 24% bracket and send the IRS $24k. If you defer for 15 years, even if you hit the bottom of the 28% bracket, your effective tax rate will be less than 20%. That is all that matters, what % do you pay to convert vs what % tax do you pay to defer. Anything else is noise by financial advisors to make it seem more complicated than it actually is." "These videos make me laugh. I give credit for the Good job with catch phrases. I will throw one in “more sizzle than substance”. Let’s analyze them. “Tax timebomb” very catchy but not accurate for most. Do your due diligence. The RMD on $1m RMD is minimal. From “forever taxed to never taxed”. Total bull. It’s really from “pay tax today at your top marginal rate to defer and pay slowly taking advantage of inflation adjustments”. The “halftime analogy” is not even understandable. “IRA is an IOU to the IRS”. How did you come up with that one. Let’s see. If you are 60 today with an IRA and defer, when RMDs kick in at age 75 your RMD on $1m will be less than the standard deduction indexed for inflation. If you only have RMDs and SS you will pay zero tax. Anyone with less than $1m in an IRA should run away from this advice which is meant to sell books and not help you. FYI I have replied with these true comments before and they never reply. Truth is tough to swallow." IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor. • Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors. CFP® - The CERTIFIED FINANCIAL PLANNER® certification is by the CFP Board of Standards, Inc. To attain the right to use the CFP® mark, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. 30 hours of continuing education is required every 2 years to maintain the certification. AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation. CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.