Early retirement is a dream for many Americans, but making it work requires more than just saving enough money; it requires smart tax strategies. In this episode of Purposeful Planning, we explore how Roth conversions can help early retirees reduce their lifetime tax burden and create more tax-free income in retirement. From understanding the five-year rule to timing your conversions strategically, discover whether this approach makes sense for your situation.

Sources:

1. https://www.aspenwealthmgmt.com/retirement-planning
2. https://www.aspenwealthmgmt.com/tax-planning
3. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds
4. https://www.financialplanningassociation.org/learning/publications/journal/MAY23-arithmetic-roth-conversions-OPEN
5. https://smartasset.com/taxes/conversion-tax-planning-strategy
6. https://www.aspenwealthmgmt.com/about-us
7. https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth
8. https://www.aspenwealthmgmt.com/resource-center/estate/gifting-strategies-without-hurting-retirement
9. https://www.aspenwealthmgmt.com/resource-center/retirement/early-retirement-and-tax-smart-roth-conversions

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

Aspen Wealth Management is a registered investment advisor with the SEC.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.