YouTube video transcript (Craig Wear, CFP®) giving practical retirement-planning advice. This segment emphasizes Roth conversion decisions (including backdoor Roth) and the critical first step of totaling all pre-tax retirement balances—including forgotten/orphan 401(k)s—to understand potential tax consequences.
Found that most people who retire at a lower income aren't necessarily at a lower tax bracket, maybe a little bit, but not significantly. So. So if you're kind of thinking about this Roth, this backdoor Roth thing, what should you do next? What are some of the steps and the things you ought to be thinking about? Well, first thing is you need to. You need to know how much pre tax you really have. And while you may be the person who knows to the penny every morning because you look it up and put it into a spreadsheet, there are a lot of people we deal with who they really don't remember all the orphan dias 1k's and stuff. So get it all together and figure out how big of a problem you're going to have.
