Employing Roth conversions is a powerful tax saving strategy that has saved many of our clients in excess of $100,000 in retirement taxes. We've created this tool to estimate your potential savings by using this tax strategy. This calculator evaluates the range of potential savings based on a number of factors to help you determine if this strategy may be right for you.
NOTE: The calculator will generate a conservative estimate for each scenario based on Minnesota state taxes only. Working with a Great Waters Financial advisor, where other factors can be considered, often results in increased savings.
This is the amount of estimated tax that you may be able to save in retirement by using Roth conversions. This estimate is calculated by evaluating your taxable income from your present age throughout your retirement, factoring in Required Minimum Distributions, and your potential tax savings by using Roth conversions to lower your Required Minimum Distributions later in life.
For some people, Roth conversions may yield little to no tax savings in their retirement, while still making a significant impact on future beneficiaries, a factor which is not evaluated in this estimate.
By working with an advisor you may find even greater savings. We've performed Roth conversions thousands of times for our clients and we'd be happy to explore the impact this strategy could make on your retirement. Click below to learn about our meeting process and to schedule a meeting.
About Great Waters Financial
We are a group of financial professionals who want to inspire others to live great lives. We believe that retirement isn't the end of the road, but a great, new beginning. One filled with new aspirations. We want to help you realize those dreams.
Founded in 2012, our philosophy bridges the gap between technical experience and showing our clients how each piece supports the future they are building. We have deep experience in investments, portfolio management, benefits, and Social Security to help you build the future you want in retirement.