Randy Stoltz is a member of Ed Slott's Elite IRA Advisor Group - a nationally recognized program requiring advanced training and ongoing testing in IRA distribution strategy. IRA planning mistakes can be costly and often irreversible. This depth of expertise matters.
Most of these strategies require accredited investor status - generally individual income over $200,000 (or $300,000 joint) for two consecutive years, or a net worth over $1 million excluding your primary residence. A 15-minute call is usually enough to determine whether any of these strategies apply to your situation.
A Roth conversion is the process of moving money from a Traditional IRA or 401(k) into a Roth IRA. You pay income tax on the converted amount now, but all future growth and qualified withdrawals are tax-free. It tends to make the most sense when you are in a lower tax bracket than you expect to be in retirement, when you have time for the account to grow, or when you want to reduce required minimum distributions.
There is no universal answer - it depends on your current income, your expected retirement income, your other assets, and how tax rates may change. Many clients benefit from a multi-year conversion strategy that moves money gradually to stay within a specific tax bracket. This is exactly the kind of analysis we run before making any recommendation.
Starting at age 73, the IRS requires you to withdraw a minimum amount from Traditional IRAs and most 401(k) accounts each year, regardless of whether you need the income. Those withdrawals are taxed as ordinary income. For clients with large retirement accounts, RMDs can push them into higher tax brackets unexpectedly. Roth accounts have no RMDs during the owner's lifetime.
Yes. There is no income limit on Roth conversions - only on direct Roth IRA contributions. High earners can still convert Traditional IRA funds to Roth at any time, regardless of income. The tax is owed on the converted amount in the year of conversion.
The backdoor Roth is a strategy where high earners make a non-deductible contribution to a Traditional IRA and then immediately convert it to a Roth IRA. As of current tax law, this is still permitted. However, the rules around it - particularly if you have other pre-tax IRA funds - can be complex. We review your full picture before recommending this approach.
Ed Slott's Elite IRA Advisor Group is a nationally recognized continuing education program that requires advanced training and testing in IRA distribution rules, Roth strategies, beneficiary planning, and tax law. IRA mistakes - especially around conversions, RMDs, and inherited accounts - can be costly and often irreversible. This designation means Randy has invested in staying current on the rules so his clients do not make those mistakes.
The first conversation is free. We do not charge for a 15-minute call to review your situation and give you an honest answer about whether Roth conversion planning makes sense given where you are.
Every dollar in a Traditional IRA comes out taxed as ordinary income - potentially at a higher rate than a conversion would cost today. The question is not whether to pay the tax. It is whether you pay it on your terms or the IRS's.
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