Good Financial Reads: Roth Conversion Round-Up

2 min read
March 18, 2022

Roth Conversion Round-Up

Your Ultimate Guide to the 'Backdoor' Roth — and How To Contribute to Yours

by Jason Speciner, Financial Planning Fort Collins

As the saying goes, “All good things must come to an end,” and the backdoor Roth contribution is no different. Recently, Congress put this relatively simple yet extremely effective planning strategy on notice: The law is onto it, and it may not last for long.

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Consider Making Roth Conversions Regularly

by Joe Morgan, Best Financial Life

Last week we talked about the three types of accounts we can use for our Long-Term Portfolio and I said it’s important to have balances in all three types.

The Already-Taxed or Roth account is the most difficult to contribute to so I want to talk this week about how we can get money into a Roth by making conversions.

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Should I Be Doing a Roth Conversion?

by Natalie Slagle, Fyooz Financial Planning

One strategy we, and our fellow fee-only financial planner friends, have been discussing a lot lately is Roth conversions.  This year in particular we witnessed (and conducted one for ourselves!) a lot more Roth conversions than usual.  It’s a strategy we have been recommending and processing for our clients due to two big reasons: tax savings and market suppression.  In this week's blog, we lay out what the strategy is, how to do it, and if it makes sense for you!

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Roth Conversion Pros, Cons and Gotchas

by James Bradley, Penobscot Financial Advisors

IRAs and Roth IRAs are similar in a lot of ways.  First, there are limits to how much you can contribute to each (for 2020, that limit is the greater of earned income or $6,000 – or $7,000 if you’re over 50.). There is no taxation on growth or income within the accounts, and there may be taxation when you take the distributions.

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