Is a Roth Conversion right for you? By converting some of your assets into IRA accounts they become non-taxable, potentially saving you a substantial amount of money. In this video, Michael Corgiat with The Retirement Group, discusses IRA strategies for corporate employees.

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Disclaimer: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Fees are incurred when assets are under the management of advisors affiliated with The Retirement Group. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice. Securities offered through FSC Securities Corporation, member FINRA/SIPC. Investment Advisor Representative of & Advisory Services offered through The Retirement Group, LLC. The Retirement Group is not affiliated with your company. The Retirement Group 5414 Oberlin Drive San Diego, CA 92121 (800) 900-5867…(read more)

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When it comes to retirement planning, one of the most important decisions you can make is when to convert your traditional IRA or 401(k) to a Roth IRA. Converting to a Roth IRA offers the potential for tax-free growth, which can be a great way to maximize your retirement savings. But when is the right time for a Roth conversion?

The answer depends on a variety of factors, including your current tax rate, your expected tax rate in retirement, and your financial goals. Here are a few things to consider when deciding when to do a Roth conversion:

1. Your Current Tax Rate: Converting to a Roth IRA will trigger a tax liability in the year of the conversion. Therefore, it’s important to consider your current tax rate when deciding when to convert. If your current tax rate is high, it may be beneficial to wait until your tax rate is lower before converting.

2. Your Expected Tax Rate in Retirement: It’s also important to consider your expected tax rate in retirement when deciding when to convert. If you expect your tax rate in retirement to be higher than your current tax rate, it may be beneficial to convert now while your tax rate is lower. This way, you can take advantage of the tax-free growth potential of a Roth IRA.

3. Your Financial Goals: Finally, it’s important to consider your financial goals when deciding when to convert. If you’re looking to maximize your retirement savings, it may be beneficial to convert sooner rather than later. This way, you can take advantage of the tax-free growth potential of a Roth IRA for a longer period of time.

Ultimately, the decision of when to convert to a Roth IRA is a personal one. It’s important to consider your current tax rate, your expected tax rate in retirement, and your financial goals when deciding when to do a Roth conversion. With careful consideration of these factors, you can make an informed decision that can help you maximize your retirement savings.