Don't Overpay Tax. Optimize Your Roth Conversions #rothconversion #retirement #taxesinretirement

Stop Making These Roth Conversion Mistakes (They Cost You Thousands) 🎯Want to discuss your retirement plan? Schedule a time here: https://calendly.com/cfm2020/youtube 🎯 A client came to me last year, saying that he wanted to "rip the band-aid off" and convert his entire $2M IRA to Roth in one shot. He thought he was being smart. Decisive. Getting things done! He was prepared to pay almost $926K in federal and state taxes. I modeled out the same $2M conversion, but did it over 5 years. By doing it over 5 years, the clients tax liability was projected to be $650K, almost $276K less. Had the client proceeded in converting the entire amount in one year, that's $276K in additional tax —wouldn’t support his his retirement, wouldn’t go to his kids, it would have just evaporated. And the worst part? He'd read all the right books. Watched all the right videos. Had the right theory. He just fell into a trap that even experienced investors fall into. Today I'm breaking down the five Roth conversion mistakes that silently drain retirement accounts—including one piece of "conventional wisdom" that gets repeated everywhere, sounds completely logical, and is actually holding most people back from converting at all. That one's coming up later, and it might change how you think about this entire strategy. In this video, I break down: ✅ Why lump-sum Roth conversions can backfire ✅ The truth about paying Roth conversion taxes from your IRA ✅ The waiting game that can ruin your retirement ✅ The deadline that trips people up ✅ What you can do NOW to make RMDs go smoothly 🎬Chapters 🎬 0:00 – Introduction 1:32 – The "Easy Button" Trap 3:32 - The "Outside Cash" Myth 6:35– The IRA Wealth Delusion 7:54 - Perpetual Procrastination 9:43 - Mistaking The Deadline 10:36 - What to Do 🎥Related Videos🎥 Is Your Retirement Plan Broken: https://youtu.be/8fKg7xX00Ic How To Minimize Taxes On Your IRA: https://youtu.be/zGtdAtHwGno Retiring at Age 60 With $3M In Pre-Tax Retirement Ac