Are Roth Conversions Right for Me? (Who Should and Who Shouldn’t)

Like what you hear on the video? Here's how I can help: 🚀 Schedule a call to work with us here: https://matttuft.fortynorthwealth.com... 👉 Free Video on How to Potentially Save Thousands in Retirement Taxes ➡️ https://matttuft.fortynorthwealth.com... Should you do a Roth conversion this year? Matt Tuft, CFP®, of Forty North Wealth walks through who a conversion can make sense for, who should probably pass, and how to decide how much to convert before the December 31 deadline. In this video: What a Roth conversion is and when you pay the tax Green lights: large pre-tax balances, the “gap years” before RMDs and Social Security, paying the tax from outside funds, and planning for heirs Red lights: peak earning years, paying the tax out of the IRA, needing the money within five years, leaving the IRA to charity How to size a conversion by filling your tax bracket How extra income can affect Medicare IRMAA premiums, Social Security taxation, and state taxes A hypothetical example: a retired couple, both 63, with $1.5 million in IRAs Chapters 0:00 The Roth vs. traditional math that leaves things out 1:10 What a Roth conversion is 1:50 Green lights: who it can make sense for 2:50 Red lights: who should pass 3:30 How much to convert 4:20 Hypothetical example 5:00 Wrap-up Got a question about Roth conversions? Drop it in the comments.