Should you convert your pretax retirement money into a Roth?
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Michael Finch, MBA, is a retired U.S. Air Force pilot who acts as a fiduciary financial advisor focusing on military families. Retirement and a transition to a second career provided first-hand knowledge of the various financial decisions and challenges that come with the decision to serve.
Finch Wealth Management was founded to consult military families and help them make informed financial decisions to maximize their financial success.
Roth Conversions Have Many Benefits for Military Families
You have probably heard of Roth conversions, but aren’t sure if it will benefit you. Is it wise to convert pretax retirement money into a Roth? After all, most people are in a lower tax bracket after retiring (myth), so why convert to a Roth when you can withdraw that money in retirement and pay the taxes then?
Your family has worked hard for that money in your TSP and your military pension. You might have substantial pretax dollars saved for retirement. A fee-only planner can analyze your specific situation and make recommendations that may make a significant impact on your financial future.