Roth IRA conversions are more attractive than ever. There are 10 things you should consider if you are planning on converting your Traditional IRA to a Roth IRA.
Here are the 10 considerations when converting a Traditional IRA to a Roth IRA:
1. Current and future tax rates: 0:42
2. Your future tax bracket: 1:44
3. Consequences in the year of conversion due to additional taxable income: 2:00
4. Payment of the tax due to the conversion income: 2:51
5. Length of time you intend to leave the funds in the Roth IRA: 3:17
6. The benefit of a Roth IRA in retirement: 3:49
7. College students: 4:08
8. Conversion Amount: 4:31
9. Monitoring the pre-conversion investment: 4:55
10. Method, timing, and plans: 5:22
If you have any questions about completing a conversion and if it is right for your situation, please contact your Untracht Early advisor.