Jill on Money with Jill Schlesinger Good Time to Increase Roth Conversions?
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Apr 17, 2025 Explore the tactical benefits of increasing Roth conversions during economic downturns, emphasizing the importance of individualized assessments. Dive into retirees' financial concerns amidst market anxieties and learn the value of proactive engagement with financial representatives. Discover strategies for managing investments and taxes in uncertain times, highlighting the careful approach needed to navigate market fluctuations. Plus, uncover community support resources and tools that empower listeners on their financial journeys.
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Boost Roth Conversions Now
- Increase Roth conversions now while the market is low to maximize tax-free growth later.
- Try converting earlier in the year instead of waiting until the end for better opportunity.
Assess Investments Before Reacting
- Review your 401(k) asset allocation carefully to ensure it's appropriate for your investment horizon.
- Avoid panicking over market downturns if you're not withdrawing funds immediately and have time to recover.
Maintain RMD Strategy
- Stick with your required minimum distribution (RMD) schedule even if account values fluctuate.
- Don't rush to withdraw before market recovery as your balance is unlikely to go to zero.