Taxes are set to increase in 2026. And even though it may not feel like it, we are living in a historically low tax rate. In this video, Peter with Richon Planning and Erin Kennedy talk through the pros and cons of a Roth Conversion for someone in their 70’s. First, the pros: if you convert your IRA to a Roth IRA, you and your beneficiaries will have tax-free withdrawals, all future growth will happen tax-free, and you’ll have no Required Minimum Distributions, which means you have better control your tax liability. But before you convert, you should also consider the cons: when you convert, you will pay all those taxes upfront, which could mean a big tax bill in April. And even though we are living in a historically low tax rate, there is uncertainty over future tax rates: they could go higher, they could go lower. If you are in your 70’s and considering a Roth Conversion, please give Peter a call to see if it makes sense as part of your financial plan. Give him a call at (919) 300-5886 or visit www.RichonPlanning.com
How Old is Too Old for a Roth Conversion?
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Understand Your Investment Options
A fundamental understanding of the different options you have available with your money will help you make more effective decisions about your placement of savings and investments, and what each dollar’s job is for you.
