Do you have a tax-efficient retirement income strategy that maximizes your after-tax wealth? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to https://www.safeguardinvest.com/contact.
How should you pay Roth Conversion taxes?
This is an often-overlooked part of a well-built Roth Conversion strategy.
Many retirees have different sources they could pay their conversion taxes from.
Some retirees also have restrictions on which accounts they can pay these taxes from. Specifically those younger than 59.5.
In last week’s video (link: https://www.youtube.com/watch?v=IT6AMI54Qj4) we discussed some important miscalculations retirees make when paying conversion taxes.
In this week’s video, we build some of those concepts give a alternative solution you may not be entertaining for paying conversion taxes prior to 59 1/2.
We will discuss:
✅ Why paying Roth Conversion taxes out of your Roth IRA can make sense!
✅ How to sidestep the various 5-year Roth IRA rules to avoid 10% penalties
✅ Alternative options for those under 59.5 for paying Taxes on Roth Conversions
#RothConversion #RothIRA #TaxPlanning
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Always remember, “You Don’t Need More Money; You Need a Better Plan”
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Safeguard Wealth Management is a Registered Investment Advisor in the State of WI. Safeguard Wealth Management is not an insurance provider. All content on Youtube is for informational purposes only and should not be taken as personal advice for your situation. You can read more disclosures at https://www.safeguardinvest.com/fiduciary