IRA to Roth conversion, or simply contribute to a Roth instead? What’s the difference, and what are the rules and limitations in 2024? Troy Sharpe, CFP®, CPWA®, CTS® offers strategic insights about income thresholds, contribution limits, and the nuanced strategies surrounding Roth IRAs, this conversation equips individuals with essential knowledge to make informed financial decisions tailored to their retirement goals. Whether you're a novice investor or a seasoned financial planner, this transcript is invaluable in navigating the complexities of Roth IRA planning, ensuring you optimize your retirement savings while avoiding common pitfalls and misconceptions.

Jump right in:
00:00 Understanding Roth IRA Basics
00:56 The difference between Contributing and Converting to a Roth IRA Savings
02:37 Professional Perspectives: Common Misunderstandings
03:21 Navigating Income Limits: Eligibility Criteria
05:35 Roth Contribution Calculator
06:17 Tax Planning Insights: AGI vs Taxable Income
07:11 Exploring Backdoor Roth IRA Strategies
08:29 Understanding Roth IRA Conversion Benefits
09:12 Conclusion: Making Informed Financial Decisions

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Disclaimer:
This video discusses fixedincome investing and utilizes the 10year U.S. treasury as a general representative fixedincome investment. Conclusions reached, opinions stated, and downside risks and potential returns presented should not be construed as applying to other types of bonds or fixedincome assets. Other types of fixedincome products carry different levels of risk and return potential and should be evaluated as an element of a diversified portfolio with your specific risk tolerance, investment objectives, and timeline in mind. Nothing in this video is investment advice, an investment recommendation, or an offer to buy or sell any security. Investing involves risk.