In this segment of the Parker Holland Show, Parker and Steve discuss the topic of Roth conversions. They explain that a Roth conversion involves converting pre-tax retirement accounts into a Roth IRA, which allows for tax-free growth and withdrawals in retirement. They highlight several scenarios in which a Roth conversion makes sense, such as when it can put you in a lower tax bracket in retirement, when you have a longer time horizon, when your income is lower than usual, and when you want to pass on tax-free wealth to future generations. They also discuss situations in which a Roth conversion may not be beneficial, such as when your current tax bracket is already high or when you have a short time horizon to retirement. They emphasize the importance of professional financial planning and saving for retirement to ensure a secure financial future. The conversation concludes with a discussion on the limitations of robo-advisory platforms and the benefits of working with an in-person financial planner. Visit Parker Holland to learn more. Call 877- 359-1979See omnystudio.com/listener for privacy information.

Ver todos los episodios