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Should I Consider Doing a Roth Conversion? [New for 2021]

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Understanding how to get tax free income in retirement is crucial for families who want financial security. But, knowing whether or not you should convert your money to a Roth IRA can be overwhelming.

Roth conversion picture.PNG
Roth conversion picture.PNG

This FREE flowchart addresses some of the major decision points to help guide you through making the right decision for your Roth conversion updated for 2021.  

 

This flowchart will walk you through:

  • Changes in marginal tax rates for individuals (or their heirs)

  • Ability to pay the associated tax with cash outside the retirement account

  • Five-year rule implications

  • Impact of income-based programs (IRMAA)

Download our FREE Cheat Sheet and find out if a Roth conversion is right for you.

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Disclosures: Covenant Wealth Advisors is a fully independent, fee-only wealth management firm and registered investment advisor located in Richmond and Williamsburg, VA. We are a fiduciary. This means we must always put client interests ahead of our own. We are also a fee-only firm. This means we never receive commissions or third party payments and are only compensated by our clients for advice.

 

Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.The views and opinions expressed in this content as of the date of the posting, are subject to change based on market and other conditions. Nothing is intended to be, and you should not consider anything to be, investment, accounting, tax or legal advice. If you would like accounting, tax or legal advice, you should consult with your own accountants, or attorneys regarding your individual circumstances and needs. No advice may be rendered by Covenant Wealth Advisors unless a client service agreement is in place.

 

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