Should I Convert My IRA to a Roth IRA? Is a $550,000 IRA enough? – Cravitz Financial & Insurance Solutions

Should I Convert My IRA to a Roth IRA? Is a $550,000 IRA enough?

Often times I've found that people think they don't have enough for it to make sense to consider converting their Traditional IRA to a Roth IRA. Some people think that unless they have a really large IRA that it probably doesn't make sense. However, each situation is unique. In this video I share with you the actual numbers that I ran for somebody comparing converting to a Roth vs not. Some of the things that are often overlooked include how you can potentially reduce your Social Security taxes by doing a conversion. Other factors include the potential for increased tax rates in the future and the impact on a surviving spouse when one spouse passes away (especially if they pass away early).


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