IRA Rollovers and Conversions

Retirement Income Plans and IRA Rollovers

Should you leave your money where it is, take the money and run, transfer it into another plan, or roll-over your money into an IRA?

Whatever choice you make has implications that will affect your retirement portfolio.

We can help plan and execute the ideal option for you, allowing your money to potentially grow tax-deferred while providing you with more customizable investments.

Roth Conversions and Alternatives – Know the Pros and Cons

Converting a traditional IRA to a Roth IRA can help provide tax-free growth potential and tax-free withdrawals in retirement.

However, it’s important to make sure a Roth conversion is right for you.

Many retirees convert their traditional IRA — subject to income taxes, on all earnings and deductible contributions only to discover they would have been better off if they hadn’t converted their Roth.

At Summit Wealth Strategies, our team helps you navigate your options to make sure a Roth conversion is right for you.

Please remember that converting an employer plan account to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.