Do You Know Why a Roth Conversion Isn’t Right for Everybody?
While Roth conversions are often talked about in retirement planning, they aren’t the right strategy for everyone.
For retirees with modest savings and no pension, leaving traditional accounts untouched until it’s time to start RMDs can work well. But retirees with pensions face an entirely different tax reality.
In a recent article, Joe F. Schmitz, a CFP® and CEO of Peak Retirement Planning, explains why Roth conversions are so important for retirees with pensions. Schmitz is a regular contributor to Kiplinger’s Adviser Intel program, a curated network of trusted financial professionals who share expert insights on wealth building and preservation.
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Check out these five questions to test your knowledge about Roth conversions, pensions and taxes.
Good luck! (Don’t worry if you miss an answer: You can follow the links below the quiz to brush up on your knowledge.)
