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

Roth Conversion Benefits for Seniors over 75

26 Nov 2024 · 0 min

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Craig Wear, CFP® explains that Roth conversions for clients aged 75 and older can still provide significant benefits, but most of those benefits (he estimates about 70%) accrue to heirs rather than the client during their remaining lifetime (about 30%). He states that if he were 75–80 he personally would not do conversions, and that conversions are more worth considering when the client has heirs (otherwise leave accounts alone).

Questions this video answers

Approximately 30% to the client during their lifetime and 70% to the heirs.

If he were 75 or 80 years old, he would not do conversions.

I know a lot of our clients that are 75 and older still see enormous benefits over both of their lifetimes. But it's if the benefits are X, probably 30% of the benefits go to the client during their lifetimes and 70% go to the heirs. And if I were 75 or 80 years old, I wouldn't do conversions. If I didn't have any heirs, I would just leave it alone. But if you do have errors and people important to you, then there's a real reason to take a look at it.