Should You Do a Roth Conversion in Your 30’s and 40’s?

In this interview, we discuss whether you should do a Roth conversion in your 30's and 40's, why tax rates in the future are likely to be much higher than they are today and a step-by-step plan for implementing a tax-free retirement.
💰FREE Tax-Free Toolkit: taxfreetoolkit.com/
✅ Find a Power of Zero Advisor: davidmcknight.com/
➡️ Learn How To Become a Power of Zero Advisor: powerofzero.com/marketing-pro...
✔️ Listen to the Podcast - podcasts.apple.com/us/podcast...
🔹 Connect With Us 🔹
Twitter -@mcknightandco
#taxfreeretirement

[@DennisDinkel-ur6yz]

I have about 100,000 in a TSP account. I'm behind the curve. I'm in the 22% bracket now. If I did all at once, how much are the penalties? If there were no penalties it looks like I would move into the 24%. Where can I go to get more info?

[@gloomsdoom649]

Do an annuity rollover

[@DavidMcKnight]

Have you separated from your employer yet?

[@DennisDinkel-ur6yz]

No. They put 1% in every 2 weeks and stopped contributing because I'm trying to pay my debt off.

[@randolphh8005]

Trying to predict the future is impossible! It makes people look stupid when they do!
There are huge advantages to not paying taxes early IF you use the extra money well.
WE DONT KNOW WHAT WILL HAPPEN
There are no “truths” about the future.
All we can do is adjust as we go.
We recently retired, and I’m glad we did NOT overconvert. I’m looking at way lower taxes than anticipated.
It’s not an age based approach. The idea should be to CONTRIBUTE to Roth when your tax rate is low(teens) whether young or old. When you fund Roths in the teen brackets you really can’t lose.
In higher brackets you just won’t know till you get to retirement. Paying taxes in the mid 20% to avoid taxes in the mid 20% is a waste of effort!