#moneyandmortgages #RothConversions #financialplanning

Adam Coleman is joined by Bill Nugent, Certified Financial Planner™ and founder of Convey Wealth Management, to unravel the complexities of Roth conversions. Bill, with a rich background in financial planning and tax strategy, shares his expertise on how Roth conversions can maximize one's after-tax wealth for themselves and their heirs. The conversation covers the basics of Roth conversions, the benefits, ideal timing based on age and income levels, and the process involved. We also explore scenarios where Roth conversions may not be advisable, the role of tax brackets, and real-world examples showcasing significant tax savings through strategic Roth conversions. Furthermore, Bill highlights how Roth conversions play into broader financial planning, including considerations regarding asset allocation and charitable donations. Bill Nugent also provides insights into the tools and software used for financial planning and strategies for individuals without access to sophisticated planning software.

For more information on Bill, check out his website: https://www.conveywealth.com/

00:00 Introduction to Roth Conversions with Expert Insights

00:34 Bill Nugent's Background and Expertise in Financial Planning

01:40 Understanding Roth Conversions: Basics and Benefits

03:44 When to Consider a Roth Conversion: Age vs. Income

07:28 Strategic Considerations and Potential Pitfalls of Roth Conversions

17:36 The Process of Executing a Roth Conversion

19:42 DIY Financial Planning for Roth Conversions

25:48 Real-World Impact of Roth Conversions: A Case Study

27:58 Conclusion and Contact Information

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Disclaimer: The information provided is for general informational purposes only and should not be construed as financial, legal, or tax advice. Always consult with a qualified professional before making any financial, legal, or tax-related decisions.