Have you wondered if you should convert to a Roth IRA? If you’ve been phased out from funding a Roth IRA, a Roth conversion could be one of the best strategies to reduce your retirement income taxes and allow you to leave tax-free generational wealth to your children.
Use this Roth conversion calculator so you can learn your estimated tax savings and if converting to a Roth IRA makes sense for your situation.
This calculator provides a conservative estimate for each scenario based on Minnesota taxes only. Working with a Great Waters Financial Advisor, where other factors can be considered, often results in increased savings. Also, if the transaction isn’t properly executed, it could leave you with significant penalties.
Our advisors are here to help you get clarity and share resources.
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