While Roth conversions are often talked about in retirement planning, they aren't the right strategy for everyone.
For retirees with modest savings and no pension, leaving traditional accounts untouched until it's time to start RMDs can work well. But retirees with pensions face an entirely different tax reality.
In a recent article, Joe F. Schmitz, a CFP® and CEO of Peak Retirement Planning, explains why Roth conversions are so important for retirees with pensions. Schmitz is a regular contributor to Kiplinger's Adviser Intel program, a curated network of trusted financial professionals who share expert insights on wealth building and preservation.
Check out these five questions to test your knowledge about Roth conversions, pensions and taxes.
Good luck! (Don't worry if you miss an answer: You can follow the links below the quiz to brush up on your knowledge.)
Related Content From Adviser Intel
- Why a Roth Conversion Is Wrong for Most People But Often Right for Pension Holders
- When Is a Roth Conversion a Bad Idea? 6 Situations Retirees Should Consider Carefully
- If You're Converting to a Roth IRA, Don't Do It Like This
- 5 Reasons Roth Conversions and Pensions Work Well Together
- 7 Times to Dip Into Your Roth IRA if You Have a Pension (and When to Leave It Alone)
