What if the Roth conversion you thought was protecting you is quietly costing you more?
Scroll social media anywhere near retirement age, and you will get hit with 10 to 15 ads promising to slash your taxes. David Bezar sits down with Michael Abbott, CFP® and financial advisor at Thrive, to sort out who Roth conversions actually help and who they quietly hurt.
They get into withdrawal sequencing, why the small blind conversion most people do can leave them paying more tax over a lifetime, and the tax bomb that builds when RMDs stack on Social Security and a pension. Michael shares a client who retired at 66 with $2 million and used a six-year window to build lifetime tax-free income.
The T in Thrive’s ROUTE framework stands for taxes, and a Roth conversion done without a plan can cost hundreds of thousands. Listen now.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP® and CERTIFIED FINANCIAL PLANNER® in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.