Why should you convert money to a Roth IRA? Joe and Al break down the basics of a Roth conversion and explain the tax benefits associated with it.
Key Points:
0:12 “What is a (Roth) conversion? It’s taking money from your retirement account and moving it into the Roth IRA”
0:23 “You have to pay tax on this money but then all future growth will grow 100% tax-free”
1:03 “When you pull those dollars out, you pay zero tax”
1:26 “You have to take a look at your tax return, you have to take a look at your income, your goals and everything else”
