Craig Wear, CFP®Craig Wear, CFP® | Expert in Roth Conversions & Tax-Efficient Retirement Strategies for IRA Millionaires

Maximize Your Roth IRA - Smart Investment Strategies Revealed

29 Sept 2024 · 1 min

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Craig Wear, CFP® explains a Roth-IRA-focused strategy: move investments from a taxable brokerage account into a Roth IRA by paying the tax on conversion, which raises Roth balances and lowers traditional IRA balances. The speaker outlines balancing conversions so that future RMDs from traditional IRAs can be sent directly to charity via qualified charitable distributions, while primary living income comes from other sources and Roth distributions provide tax-free supplemental income.

Chapters

You just move that money and that investment strategy over to your Roth ira. So now maybe where you had a brokerage account, that was a few, a million or two, you pull that down by way of paying taxes, and now your Roth IRA is a lot higher, your regular IRA has gone down significantly. And if you can find just the right balance in there, then what you do is you end up with a life where maybe your RMDs go straight to your charity, your church, through something called qualified, Qualified charitable donations. Your primary income is derived from other sources and you supplement that with Roth IRA money, which is totally tax free.