Episode Details

Sammy, a 51-year-old retiree, is seeking advice on how much she should convert from her traditional IRA to a Roth IRA each year to avoid jumping tax brackets and minimize the taxation of her social security benefits. 

James analyzes Sammy's current financial situation and offers guidance on approaching the tax planning aspect of her retirement strategy.

Learn:
How to determine how much to convert from an IRA to a Roth IRA 
Why forward-looking tax planning is essential
The potential consequences of certain financial decisions

Questions Answered:
What factors should you consider in planning Roth conversions?
How can you avoid going into a higher tax bracket?

Timestamps:
0:00 - Sammy’s Roth conversion question
2:29 - The Roth/tax rules today
4:58 - Tax on different types of income
7:24 - Some assumptions
10:19 - Figuring tax and making assessments
12:28 - RMD part 1
15:33 - RMD part 2
17:25 - Caution about tax bracket assumptions
21:58 - Important side note
23:45 - Takeaways

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