Radio Show #31: All Things Roth Accounts
This week, we’re talking all about the intricacies of Roth accounts and conversions to help anyone looking for ways to optimize their retirement savings. Understanding the difference between traditional and Roth IRAs is crucial for effective tax planning and long-term financial security.
Roth accounts have gained popularity since their introduction in 1998, providing individuals with a unique opportunity to save for retirement using post-tax dollars. This means that while contributions to a Roth IRA or Roth 401(k) are made after taxes are paid, any growth within the account is tax-free. This feature is particularly appealing as tax rates are projected to rise in the future.
We’ll discuss the powerful benefits of Roth conversions, the differences between traditional and Roth IRAs, and the implications for your financial future. Whether you’re considering a Roth conversion or simply want to understand how to maximize your retirement savings, this show provides valuable insights and actionable steps.
Here’s some of what we discuss in this episode:
-Should you convert a part of your traditional IRA or 401k into a Roth?
-All the differences between a Roth and the traditional post-tax accounts.
-How can a Roth conversion benefit clients and what should you consider first?
-Two ways to treat the taxes associated with Roth conversions.
-The five-year rule for Roths.
Book a 15-minute discovery call with the team here: https://calendly.com/ask-bulmanwealth or ask questions via email at ask@bulmanwealth.com.
