Craig Wear, CFP, explains why Roth conversion strategy requires more than AI or quick online answers. A real plan looks at multiple tax brackets across years, RMDs, Social Security timing, and life events like inheritances or business sales to minimize lifetime taxes, not just this year's bill.
If you go online and you ask Google or you ask chatgpt how should I do Roth conversions? You'll often get a simple answer. Just convert up to the top of your current tax bracket. If you're an IRA millionaire, that can be a really bad plan. You can leave a ton of money on the IRS's table. What you need is a strategic plan that looks at multiple tax brackets, future scenarios and the entire timeline. Income changes, all RMDs, Social Security timing, widow or widower tax brackets, inheritances, selling a business, all these things that can spike taxes later. The goal is not to pay the least tax this year. The goal is to pay the least tax over your lifetime and maximize what I call your tax adjusted net worth. Because if you've got $2 million in an IRA at age 85, that's not 2 million of spendable money. The IRS still has a claim on a big chunk of it. Please don't leave your future to Google or AI.
