Episode 39: "ROTH IRAs & ROTH Conversions - What, How, Why, & When

Roth IRAs and Roth Conversions play a crucial role in effective retirement planning. In this week’s show, retirement experts Tom Mosley and Kristin Oakley cover the important what, how’s, why’s and when’s of ROTHs. They break down the tax advantages, compare Roth IRAs with Traditional IRAs, and explore why a Roth conversion might be a smart move for securing your financial future. They’ll also touch on contribution limits, the process of converting to a Roth, and some key considerations, including when a Roth conversion might not be the best option. Listener questions and the latest updates from the Secure Act round out this important guide to helping you maximize your retirement strategy. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 ROTH Conversions & TAXES 06:30 ROTH IRA vs Traditional IRA 08:38 ROTH Conversions 14:28 ROTH Contribution Limits 16:45 Why Should Someone do a ROTH Conversion? 21:25 How to Do a ROTH Conversion 27:29 How to Learn More about Retirement Planning 30:00 Using Tax Software that shows the impact of ROTH Conversions 32:25 Reason Why You Shouldn’t do a ROTH Conversion 40:30 Listener Questions: Can I Cash Out an IRA and Convert to ROTH? 46:34 Listener Questions: If I’m 73 and working do I have to withdraw money from my SIMPLE IRA? 48:30 How to Ask Questions 48:55 Secure Act Clarification: Breaking News Have specific questions for Tom and the team at Mosley Wealth Management? Contact us here 👇 https://mosleywealthmanagement.com/contact/ ============================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1 ============================================== ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement - Instagram: https://www.instagram.com/easeintoretirement/ - LinkedIn: https://www.linkedin.com/company/mosley-wealth-management Learn the key components you need to include in your retirement plan, Check this video out: https://youtu.be/QkJzvbZ_gDs #ROTH Conversions #ROTH IRAS #RetirementIncome #RetirementPlanning #RetirementStrategy #FinancialEducation #FinancialLiteracy #HowToRetireEarly #RetirementPlanningAt50 #RetirementPlanningAt60 #HowMuchDoINeedToRetire #HowToRetireEarly #RetirementPlanningTips #FinancialAdvisor #SocialSecurity DISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766 Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.For more information, visit: www.mosleywealthmanagement.com