We are a quarter-century of unparalleled experience, knowledge and advice.
We are an independent wealth management firm, able to customize a plan to fit your needs.
We believe the value is in the plan, not the products.
Let Thurlow Wealth Management help you plan and manage your financial goals so you can enjoy your journey... and build memories that last a lifetime.
If you’re wondering when is the best time to convert a traditional IRA to a Roth IRA, the following information may help. Roth IRA conversions typically make the most sense for older retirement plan investors, who tend to be in higher tax brackets. The benefits of converting a traditional IRA to a Roth IRA include:
One of the most important considerations when converting to a Roth IRA is the tax consequences:
Under previous tax law, if you changed your mind after converting a traditional IRA into a Roth IRA, you could reverse your decision up until the due date of your tax return. However, the Tax Cuts and Jobs Act of 2017 removed the ability to recharacterize any Roth IRA conversions done in 2018 and going forward.
Since Roth conversions can be complex, it’s important to receive the guidance of an experienced financial professional. Contact the office to schedule a time to discuss whether a Roth IRA conversion is an appropriate strategy for you.
Why are 401(k) plans, annuities, and IRAs so popular?