{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Should I Do a Roth Conversion in my 60s?","description":"Today\u2019s episode of The Power of Zero Show revolves around a question host David McKnight gets asked all the time: \u201cShould I still be doing Roth conversions in my 60s, even if I\u2019m already retired?\u201d In short, David believes that you should not only do a Roth conversion in your 60s, it\u2019s actually one of the most optimal times in your entire life to do it. When doing a Roth conversion, you\u2019re choosing to pay the IRS its portion of your IRA now, on your terms, instead of paying it a much larger portion later, on their terms. That\u2019s why Roth conversions don\u2019t only make sense for younger people but for retired folks too. Remember: with Roth conversions, you\u2019re not catching up because you\u2019re not behind. You\u2019re locking in a lower tax rate today to avoid a much higher tax rate down the road. David explains why the so-called \u201cretirement income valley\u201d is a strategically perfect time to do a Roth conversion. The 32% tax bracket is David\u2019s least favorite tax bracket, which he recommends avoiding at all costs when doing Roth conversions. David touches upon the Penn Wharton Budget Model and why 2040, or so, will be the do-or-die date for these matters. What if you don\u2019t have extra cash sitting around? Would you still need to pay the taxes on your Roth conversion out of pocket? David illustrates what you can do if you find yourself in that situation. David goes over why you should want to get as much of your IRA into Roth as you possibly can \u2013 and what\u2019s the beauty of doing that in your 60s.     Mentioned in this episode: David\u2019s new book: The Secret Order of Millionaires David\u2019s national bestselling book: The Guru Gap: How America\u2019s Financial Gurus Are Leading You Astray, and How to Get Back on Track Tax-Free Income for Life: A Step-by-Step Plan for a Secure Retirement by David McKnight DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com Congressional Budget Office Penn Wharton Budget Model ","author_name":"The Power Of Zero Show","author_url":"http:\/\/davidmcknight.com\/","html":"