Roth accounts are an amazing tool when it comes to creating wealth. Roth IRAs are not subject to Required Minimum Distributions and can be passed on to heirs tax-free. They also grow tax-free!
If you’re considering a Roth Conversion, our financial advisor Sean and Erin walk through 3 key considerations:
1. Your future tax rate
2. When will you need to access the funds?
3. Your beneficiary’s future tax rate
Keep in mind, we are living in a historically low tax rate. Many financial experts believe that the Tax Cuts and Jobs Act of 2017 reduced federal income tax rates to the lowest level they may ever be, and those cuts are set to expire at the end of 2025. In other words, there has never been a better time to determine if a Roth Conversion is right for you. And those conversions have to be completed in the calendar year; you do not have until the tax filing deadline!
If you’d like to crunch the numbers or get the process started with Sean at 603-715-2335 or click HERE to schedule time directly on Sean’s calendar.