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

Unlocking The Secrets of IRA Tax Strategies for 2024

12 Dec 2024 · 1 min

Watch on YouTube

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A short YouTube presentation by Craig Wear, CFP® explaining why taxpayers should evaluate IRA conversion decisions before year-end, emphasizing the importance of understanding future tax exposure and selecting a conversion strategy accordingly. The speaker stresses that leaving funds in an IRA exposes one to future tax changes and that marginal tax-rate movement alone isn’t the sole determinant of whether to convert now.

Chapters

And then obviously, the other reason that this is a big deal to get the answer to these on the front end very quickly before the end of the year, is to also figure out, so you can figure out what your right game plan is going to be, to also understand the exposure that you're going to have to future tax changes, whether they go up or down or sideways. But understand that if you leave the money in the ira, you're going to have exposure to future tax changes. Whether rates go up or down is not as big a determiner of whether you should convert now as you might think.