Are you thinking about doing a ROTH conversion while the market’s down? While it may seem like the best time to do a ROTH conversion and make a smart tax move, there are some major pitfalls you HAVE to be aware so you don’t blow up your retirement! In today’s video, Tom breaks down three critical ways a ROTH conversion can go wrong and potentially derail your retirement plans if not handled with care.Tom uncovers the hidden dangers, including how a ROTH conversion can:✅Push you into a higher tax bracket✅Increase your Medicare Part B and D premiums✅Impact your capital gains taxes in unexpected ways.He also shares two real-life examples of situations where ROTH conversions turned out to be costly mistakes, highlighting the importance of strategic planning.
A ROTH conversion can be a smart move, but only if it’s part of a well-thought-out plan. Watch now to learn how to make an informed decision for your financial future.Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇TIMESTAMPS00:00 3 Ways a ROTH Conversion Can Ruin Your Retirement00:33 Overview of a ROTH Conversion01:48 Reasons to do a ROTH Conversion now03:54 ROTH Conversions can drive up your tax bracket06:03 ROTH Conversions can impact Medicare B & D08:44 ROTH Conversions can impact Capital Gains11:28 Two examples where ROTH conversions were a mistake14:25 How to get help with ROTH Conversions
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Learn the key components you need to include in your retirement plan, check this video out: https://youtu.be/QkJzvbZ_gDs
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