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| Name | Roth IRA Conversion Pros and Cons in 2024 |
| Video Uploader | Video From See the Forest Through the Trees |
| Upload Date | This Video Uploaded At 18-02-2022 20:30:13 |
| Video Discription | In this video, CERTIFIED FINANCIAL PLANNER™️ Professional Colin Exelby discusses the most powerful way to build tax-free wealth. There used to be an income cap. But, that tax law was changed back in 2010 to allow anyone the opportunity to convert. But… that huge advantage may be slipping away. As a reminder, if you have Traditional IRA assets, you took a tax deduction at some point in the past and you will owe taxes on those funds at some point in the future… and Congress is counting on it, salivating at the chance to grab a large portion of those assets. As we learned in Part 4 of the series, A Roth IRA allows for tax-free growth, tax-free distributions and tax-free transfer of the assets to your heirs. In part 5 we are talking about conversions. A conversion is where you elect to move assets from your traditional IRA to your Roth IRA, pay taxes now at the historically low tax rates and then never be taxed again. Stick with me and I’ll explain: Why Roth conversions are so important to the zero percent tax bracket in retirement and why the clock is ticking on this tremendous strategy Timestamps : 00:00 Introduction 01:57 Converting Traditional Retirement Accounts to ROTH Accounts 03:18 The Sweet Spot for Roth Conversions 04:07 Roth IRA Conversion In 2022 05:37 Roth IRA Distributions Don’t Count As Provisional Income 07:05 How Should You Pay the Tax on Roth Conversions 07:45 The Importance of the Roth 5-Year Rule 08:55 When Does a Roth Conversion NOT Make Sense? ★☆★ Part 1: How to Keep Your Social Security Tax-Free ★☆★ https://youtu.be/vwbnG-JVa0U ★☆★Part 2: Why Current Tax Rates Are So Attractive for Planning ★☆★ https://youtu.be/AYPiBpqigX4 ★☆★Part 3: How Much Should You Have in Your Retirement Accounts to Create a Tax-Free Income? ★☆★ https://youtu.be/o9fw9D5xWbE ★☆★Part 4: Why the Roth 401(k) and Roth IRA are so Important to a Successful Retirement Plan ★☆★ https://youtu.be/tIvOeZ2mXhk [About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management. I provide financial planning for business owners and their families that makes sense. Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be. We strive to help you: *Optimize Your Cash Flow *Minimize Your Taxes *Build Your Net Worth *Create a Lasting Legacy ➡️ ➡️Free Guide Here: https://celestialwm.com/ptpebook-go/⬅️⬅️ If this sounds like what you are looking for then hit the subscribe button right here and I'll see you in the comments! Subscribe to the Channel Here: ★☆★ https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA?sub_confirmation=1 ★☆★ ★☆★ Subscribe to the Blog Here ★☆★ https://seetheforestthroughthetrees.com #rothconversion #financialfreedom #financialplanning TAGS - colin exelby,Pros and Cons of Roth IRA Conversions in 2022,retirement planning for business owners,certified financial planner,cash flow management,debt management,celestial wealth management,ROTH Ira Conversions,Roth Conversions,Safeguard Wealth Management,Roth Accounts,Traditional IRAs,Tax-Free Retirement,Roth Conversions in 2021,When Does Roth Conversions Make Sense?,Retirement Planning,Heritage Wealth Planning,K.Scholl,Roth IRA Conversion Explained,Finding the Sweetspot For Paying Roth Conversion Taxes,The 2 Situations Where You Will Have an RMD From Your Roth Accounts...,tax free retirement, Tax Free Income!, How To Create A Tax Plan For Your Retirement,Partner With The Government To Pay Zero Taxes - Robert Kiyosaki, Tom Wheelwright, and Ken McElroy,How to Pay Zero Taxes...the Easy Way,How Rich People Avoid Paying Taxes -Robert Kiyosaki,Tax Loopholes The Rich Use To Pay Zero Taxes w/ Tom Wheelwright,How to (Legally) Never Pay Taxes Again,- Robert Kiyosaki,5 Taxable Account Rules to Follow for Tax Efficient Investing, 3 Reasons to Perform Roth Conversions in 2021, 2022, and Beyond,How to Obtain Critical Tax Information From Past Tax Years | IRS Transcripts, Is Real Estate a Good Investment For Your Retirement?,The Optimal Way to Pay Taxes on Your Roth Conversion,Is this the END of Roth Conversions?,Roth Conversions In Retirement,Roth Conversions while on Obamacare: Do they make sense?,Retirement's Most Tax Advantaged Account: Health Savings Accounts (HSAs),What if a Roth Conversion causes you to owe a Medicare Penalty?,The Roth IRA 5 Year Rules Explained: Navigating Three Confusing 5 Year Roth IRA Rules,What is a Roth Conversion and When Does a Conversion Make Sense?,7 Steps to Tax Efficient Retirement Income: Tax Planning to Grow Your Retirement Income and Nest Egg,IRAFinancial |
| Category | Education |
| Tags | colin exelby | Pros and Cons of Roth IRA Conversions in 2022 | retirement planning for business owners | certified financial planner | cash flow management | debt management | celestial wealth management | ROTH Ira Conversions | Roth Conversions | Safeguard Wealth Management | Roth Accounts | Traditional IRAs | Tax-Free Retirement | When Does Roth Conversions Make Sense? | Retirement Planning | Heritage Wealth Planning | K.Scholl | Roth IRA Conversion Explained | roth conversions in 2022 |
