This is a short advisory YouTube segment by Craig Wear, CFP® explaining initial steps to evaluate whether Roth IRA conversions are appropriate. He recommends (1) evaluating current IRA balances and future required distributions to spot problems and (2) consulting a certified financial planner to calculate optimal conversion amounts and timing.
So step one, here's three things to really kind of think about. Evaluate your IRA balance in your future requirement of distributions. Figure out if they're going to cause a problem. Number two, consult with a financial planner. My suggestion is you meet with one of our certified financial planners that really specialize in this one thing. We don't sell any financial products. We don't manage any assets. Get somebody to calculate what that optimal conversion amount is for you. What's the amount you should convert? What's the right time frame you could convert? And if they know what they're doing, they can show you this in black and white.
