Is a Roth IRA conversion the right move for you this year? In this episode of Elevate Wealth, Deanne Rosso and Ben Hall explain when a Roth conversion can make sense — and when it might not.

You’ll learn:

✅ When a Roth conversion is beneficial

✅ How tax brackets affect your decision

✅ Strategies to minimize taxes and maximize growth

Want help understanding the right time to do a ROTH IRA conversion? Visit elevate-wealth.com and click “Let’s Talk.”

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Should I do a Roth conversion before year end? And how do I know if it makes sense for my tax situation? These answers and more today on Elevate Wealth. Welcome back. I'm Deanne Rosso with Elevate Wealth Advisory, and I'm joined today by Ben Hall, our director of tax services. Welcome, Ben. Thanks, Deanne. So, Ben, today two-part question. Hope you're ready for it. First, should I do a Roth conversion before year end? That's a great question, Deanne. And the answer really depends on your current tax situation, because when you do a Roth conversion, you're pulling money out of a tax-deferred account. So you're going to have to pay taxes on that when you do that. And so the advantage of doing that, though, is that you're now going to have those assets in an account that can grow tax-free indefinitely. So it can be a very beneficial move if done correctly. Right. So moving the assets from that tax deferred bucket over to that tax-free bucket and when sometimes we use our illustration of our tax buckets. Right. Right. Okay. Great. Okay. So, part two of the question, does a Roth conversion make sense for my tax situation? It can be a good thing to do for your situation. It depends on if your marginal tax bracket is low this year. If you're in a relatively low marginal tax bracket, it can be a good year to do a Roth conversion. But if you're in a high tax bracket, you may want to wait until later on to do something like that. If you're in a transitional period, which can be the time from when you retire to when the time is you have to start taking required distributions. A lot of times we'll see clients do Roth conversion during those years because you're typically in a lower tax bracket during that time. So that can be a good time to do this. So ideally, you want to do a Roth conversion when you're in a lower tax rate now than you think you'll experience later on. Yeah, that's right. The whole idea is to really just be aware of your tax bracket, your current tax bracket, as well as your projected future tax brackets and just kind of use that as a guide and plan out how and when you want to take your Roth conversions. Gotcha. And we call the transitional period that you were speaking of. We call that transition in a retiree's life phase, if you will, because of the flexibility you can potentially have in your tax brackets during that time. That's right. So, like Ben said, everyone's tax situation is different. And if you need a customized plan for your tax situation, that's why we're here to help. Visit us at elevate-wealth.com and click "let's talk." Thank you for joining me today, Ben. And we hope to help you guys during your transition phase or whatever phase of retirement you may be looking forward to or walking through. Thanks so much for watching and listening. We'll see you next time.

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