Nearing Retirement? Take Another Look at Roth Conversions

Due to lower tax rates and the recently passed SECURE Act, those nearing retirement should consider a Roth conversion.

A hand putting money into a gold piggy bank
(Image credit: Getty Images)

For those nearing retirement, taking the right planning steps is even more important, given the narrowing time frame to leaving the workforce. This current year brings forth planning opportunities to help you achieve your retirement goals that may not be available next year, because income tax rates could rise, especially given the amount of stimulus paid for the various COVID- 19 relief packages.

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Daniel Fan, J.D., LL.M., CFP
Director of Wealth Planning, First Foundation Advisors

Daniel Fan serves as the Director of Wealth Planning for First Foundation Advisors. Mr. Fan is a Certified Financial Planner™ and holds his Juris Doctorate and Master's in taxation from Pepperdine University School of Law and Golden Gate University respectively. He earned his Bachelor's degree from the University of California, Los Angeles.