Managing Your Financial Future with Lucia Capital Group
Managing Your Financial Future with Johnny Dean and "Professor" Rick Plum, CFP® Brought to you by the advisors and investment professionals at Lucia Capital Group, a registered investment advisor. Integrating financial planning and investing decisions, designed to help you reach your own financial goals. Want the best tips on which hot stocks you should buy this week? Go somewhere else - we don't do that. It's all about planning, strategy, managing your future and taking control of your financial life. Securities offered through LPL Financial, member FINRA/SIPC.
Managing Your Financial Future with Lucia Capital Group
Are Roth Conversions Always a Good Idea?
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Roth IRAs are often described as one of the most powerful tools available in retirement planning. Tax-free growth, tax-free withdrawals, and flexibility? Those are hard to beat. So it’s no surprise that Roth conversions are frequently promoted as a good move for just about everyone.
But there’s a part of the conversation that doesn’t get nearly enough attention: the cost of getting money into a Roth in the first place. Roth conversions require an immediate, irreversible tax payment today in exchange for benefits that may take decades to materialize and may never fully pay off.
So when does a Roth conversion make sense and when might it work against you? Find out from podcast host Johnny Dean and Rick “The Professor” Plum, CFP®, on this week’s episode of Managing Your Financial Future!