We Have $12 Million. Should We Do Roth Conversions? - 597

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Joe Anderson, CFP® and Big Al Clopine, CPA are spitballing Roth conversions from every angle today on Your Money, Your Wealth® podcast number 597. John in Oklahoma is 75, sitting on a million dollars in traditional IRAs, and he's got a whole list of reasons NOT to convert to Roth. Is he right? Is it worth it as part of his retirement strategy? Jonathan and Jennifer in Phoenix have over six million dollars in tax-deferred accounts. How much should they convert, and where should they stop? J and C in Hawaii are both 38 and want to walk away from work at 55. How do they bridge the gap? And finally, are Bonnie and Clyde working for nothing if it all just turns into a giant tax bill?

Free Financial Resources in This Episode:

https://bit.ly/ymyw-597 (full show notes & episode transcript)

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Once Retirees See This Data, They Stop Worrying About Investing - YMYW TV:

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Chapters:

00:00 - Intro: This Week on the YMYW Podcast

00:55 - Roth at 75: Does the Math Actually Work? (John, OK)

10:03 - 12M and Still Worried About Taxes: Roth Conversion Spitball (Jonathan & Jennifer, Phoenix AZ)

16:47 - Retiring at 55 in Hawaii: When Do We Start the Taxable Account? (J & C, Hawaii)

27:26 - Am I Just Working to Create a Bigger Tax Problem? (Bonnie & Clyde)

34:20 - Outro: Next Week on the YMYW Podcast

36:53 - The Derails: Hart to Hart, Minutiae, and Levels of Fame