Amplified Wealth
Amplified Wealth is your monthly dose of actionable financial insight, where financial experts dive into a wide range of money matters in an informal, yet informative manner. Join us each month as we discuss various, timely financial topics - breaking them down to be more accessible and engaging for everyone.
Amplified Wealth
According to Plan: Roth Revealed - Converting with Confidence
In the latest episode of Amplified Wealth: According to Plan, Kate Fishbein, CFP®, and Tom Farrell, CFP®, AEP®, CEPA, welcome special guest Amy Pastorino, CFP® for a deep dive on Roth IRAs and conversion strategies.
🎯 Topics Covered:
- The why behind Roth conversions: tax flexibility and legacy planning
- How Secure Act changes impact inherited IRAs and distribution timelines
- The “Tax Now, Tax Later, Tax Never” framework for asset location
- Real-world case study: How one client used slow-and-steady conversions to diversify
- When not to convert, and why CPA coordination is critical
Whether you're planning your own retirement or thinking about what you’ll leave behind, this episode breaks down the key considerations to help you make informed decisions about your Roth strategy.
Timestamps:
00:00
Introduction to Roth IRAs
03:48
Understanding Traditional vs. Roth IRAs
06:48
Reasons for Roth Conversions: Tax Flexibility and Legacy
07:54
The Impact of the Secure Act on Inherited IRAs
12:43
Tax Location: Understanding Tax Buckets
15:37
Case Study: Tax Diversification
16:46
The Importance of a Slow and Steady Approach
21:29
When to Consider Roth Conversions
21:52
Long-Term Growth Strategies for Roth IRAs
22:02
Reasons to Consider Delaying Roth Conversions
31:12
Contributions vs. Conversions: Understanding Your Options
40:07
Navigating Tax Implications of Roth Conversions
41:53
Key Considerations for Roth Conversions
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