When Roth Conversions Actually Save Retirees Money (and When They Backfire), According to CFPs

Roth conversions are often described as a smart move for retirees who want tax-free income later in life. But the same strategy that creates long-term savings for one household can trigger higher taxes, Medicare premiums or lost deductions for another. Cristina Wiebelt-Smith, a CFP and wealth advisor with Gertsema Wealth Advisors, said, “With Roth conversions, the name of the game is cutting Uncle Sam out of the equation and keeping as much of your hard-earned money as possible.” Here are the circumstance ...