The Roth Conversion Roadmap: Reducing Future Tax Burdens in Retirement
Planning for retirement involves not only saving but also strategically managing your tax burden. One approach to consider is the Roth conversion strategy, which allows you to convert tax-deferred retirement accounts, like traditional IRAs or 401(k)s, into tax-free Roth IRAs. At Hanson Wealth Management, we assist clients in understanding the potential benefits of Roth conversions in relation to their individual financial circumstances. This article dives into the Roth Conversion Roadmap, addressing the key considerations, challenges, and strategies for reducing future tax burdens while maintaining financial flexibility during the transition period. What Is a Roth Conversion? A Roth conversion involves