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I've got valuable information and resources to share. Explore away! And check back often.

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A lot of people have heard of how powerful Roth Conversions can be. The tax savings on a Roth Conversion strategy can be six or even seven figures for some people. But there's a difference in just being aware of of the concept and executing a Roth Conversion Strategy. Here's what a Roth Conversion Strategy entails 👇 ☕ Tax Brackets ↳ Deciding which tax bracket to strategically "fill up." 👨‍💻 Calculating Room ↳ Using tax planning software to precisely calculate "room" within the desired tax bracket for conversion. 🏥 Medicare Impact ↳ Understanding and navigating the impact on Medicare premiums if over 65. 💸 Pay the taxes ↳ Identifying sources of liquidity to cover the taxes out of pocket. 🚫 Offsetting the taxes ↳ Finding credits & deductions strategies to offset tax burden of Roth Conversions. 🪣 How much is too much? ↳ Determining the optimal balance to leave in the pre-tax bucket. 📉 Market considerations ↳ Capitalizing on market drawdowns by accelerating conversions at opportune times. 🏛️ Tax Law Considerations ↳ Adjusting the strategy as tax laws change. 🧍‍♂️ MFJ → Single ↳ Adjusting the strategy when the household goes from married to single. 💸 RMDs ↳ Adjusting conversion amounts as RMDs come into play. 👨‍👩‍👧‍👦 Estate considerations ↳ Leaving pre-tax assets to lower income beneficiaries and Roth assets to higher income beneficiaries. . . . Disclosures: Thrivent .com/social Thrivent and its financial advisors and professionals do not provide legal, accounting, or tax advice. Consult your attorney or tax professional.

A lot of people have heard of how powerful Roth Conversions can be. The tax savings on a Roth Conversion strategy can be six or even seven figures for some people. But there's a difference in just being aware of of the concept and executing a Roth Conversion Strategy. Here's what a Roth Conversion Strategy entails 👇 ☕ Tax Brackets ↳ Deciding which tax bracket to strategically "fill up." 👨‍💻 Calculating Room ↳ Using tax planning software to precisely calculate "room" within the desired tax bracket for conversion. 🏥 Medicare Impact ↳ Understanding and navigating the impact on Medicare premiums if over 65. 💸 Pay the taxes ↳ Identifying sources of liquidity to cover the taxes out of pocket. 🚫 Offsetting the taxes ↳ Finding credits & deductions strategies to offset tax burden of Roth Conversions. 🪣 How much is too much? ↳ Determining the optimal balance to leave in the pre-tax bucket. 📉 Market considerations ↳ Capitalizing on market drawdowns by accelerating conversions at opportune times. 🏛️ Tax Law Considerations ↳ Adjusting the strategy as tax laws change. 🧍‍♂️ MFJ → Single ↳ Adjusting the strategy when the household goes from married to single. 💸 RMDs ↳ Adjusting conversion amounts as RMDs come into play. 👨‍👩‍👧‍👦 Estate considerations ↳ Leaving pre-tax assets to lower income beneficiaries and Roth assets to higher income beneficiaries. . . . Disclosures: Thrivent .com/social Thrivent and its financial advisors and professionals do not provide legal, accounting, or tax advice. Consult your attorney or tax professional.

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"We'll just put the baby on my health insurance." 1 hour later...We decided to do the exact opposite. I recently met with a married couple that was looking over their health insurance now that they have their first child on the way. After taking a look at their benefits package, I ran an analysis comparing the two health plans. Here's what we found out 👇 → Putting the baby on the husband's plan could save them between $3,000 and $8,000 per year, depending on their medical expenses. → They’d gain access to an HSA, reducing their taxes by nearly $2,500 annually. Don't let your employer benefits "happen to you." Let our team help!

"We'll just put the baby on my health insurance." 1 hour later...We decided to do the exact opposite. I recently met with a married couple that was looking over their health insurance now that they have their first child on the way. After taking a look at their benefits package, I ran an analysis comparing the two health plans. Here's what we found out 👇 → Putting the baby on the husband's plan could save them between $3,000 and $8,000 per year, depending on their medical expenses. → They’d gain access to an HSA, reducing their taxes by nearly $2,500 annually. Don't let your employer benefits "happen to you." Let our team help!

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If you try to complete a Backdoor Roth IRA strategy and you have a balance in a… → Traditional IRA → SEP IRA → SIMPLE IRA That conversion will become taxable. However, if your spouse does not have any IRA balances, you may be able to do a backdoor Roth IRA for them! . . . Disclosures: thrivent.com/social

If you try to complete a Backdoor Roth IRA strategy and you have a balance in a… → Traditional IRA → SEP IRA → SIMPLE IRA That conversion will become taxable. However, if your spouse does not have any IRA balances, you may be able to do a backdoor Roth IRA for them! . . . Disclosures: thrivent.com/social

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Someone is going to spend your money. → You → Your Beneficiaries → The Government If you had to put percentages to it, how much do you want each one to spend? My job is to help people get as close to their desired breakdown as possible. Whether your goal is to... → Get more life out of your money → Maximize how much you leave behind → Minimize how much you leave to the government → All of the above A good financial plan can help you achieve that. . . . Disclosures: thrivent.com/social

Someone is going to spend your money. → You → Your Beneficiaries → The Government If you had to put percentages to it, how much do you want each one to spend? My job is to help people get as close to their desired breakdown as possible. Whether your goal is to... → Get more life out of your money → Maximize how much you leave behind → Minimize how much you leave to the government → All of the above A good financial plan can help you achieve that. . . . Disclosures: thrivent.com/social

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Many people won’t ever have a need to convert their term policies to permanent policies. But I do think it’s important to have a policy that is convertible throughout the entire term period. You never know if… → You’ll become uninsurable in the future. → You’ll encounter estate tax issues. → Tax rates will increase dramatically. → You’ll want to maximize the single life payout of your pension with life insurance. → You’ll have unneeded RMDs and plan to leave your IRA to your kids. Bottom line: A convertible term means you have options. . . . Disclosures: thrivent.com/social

Many people won’t ever have a need to convert their term policies to permanent policies. But I do think it’s important to have a policy that is convertible throughout the entire term period. You never know if… → You’ll become uninsurable in the future. → You’ll encounter estate tax issues. → Tax rates will increase dramatically. → You’ll want to maximize the single life payout of your pension with life insurance. → You’ll have unneeded RMDs and plan to leave your IRA to your kids. Bottom line: A convertible term means you have options. . . . Disclosures: thrivent.com/social

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Here’s the uncomfortable truth about diversification: When you own a diversified portfolio... There is ALWAYS going to be a stock or a fund somewhere that is outperforming you. It's about having the discipline to stick to a plan, even when you're tempted to ask questions such as: “Why would I invest in any other sector but technology?” “Why would I want to own value stocks vs. just growth?” “What’s the point of having international in my portfolio?” “Why wouldn’t I just own the S&P 500 and nothing else?” "Should I just put all my money in NVIDIA?" . . . While diversification can help reduce market risk, it does not eliminate it. Diversification does not assure a profit or protect against loss in a declining market. Concepts presented are intended for educational purposes. This information should not be considered investment advice or a recommendation of any particular security, strategy, or product. Disclosures: thrivent.com/social

Here’s the uncomfortable truth about diversification: When you own a diversified portfolio... There is ALWAYS going to be a stock or a fund somewhere that is outperforming you. It's about having the discipline to stick to a plan, even when you're tempted to ask questions such as: “Why would I invest in any other sector but technology?” “Why would I want to own value stocks vs. just growth?” “What’s the point of having international in my portfolio?” “Why wouldn’t I just own the S&P 500 and nothing else?” "Should I just put all my money in NVIDIA?" . . . While diversification can help reduce market risk, it does not eliminate it. Diversification does not assure a profit or protect against loss in a declining market. Concepts presented are intended for educational purposes. This information should not be considered investment advice or a recommendation of any particular security, strategy, or product. Disclosures: thrivent.com/social

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"Everyone's always told me to go Roth. I hadn't even thought about changing the strategy." Recently told a client switch their 401(k) contributions from Roth → Pre-tax. Here's why 👇 → The client had jumped up into the 32% tax bracket over the last couple years after spending most of his career in the twenties. → They aren't likely to pay 32% taxes in retirement based on their current level of retirement savings + contributions. → Most of their savings are in taxable brokerage and Roth accounts, so their RMDs won't be large relative to most Americans with their level of wealth. → They want to retire early, leaving them a good window to convert their pre-tax balance to Roth when they retire into a lower tax bracket. → They are charitably inclined and can give out of their IRA in the future via Qualified Charitable Distributions (QCDs). Even if overall tax rates go up, it still makes sense for this couple to contribute pre-tax for the foreseeable future. I tell more people to contribute to Roth. But finance is personal. . . . Disclosures: thrivent.com/social

"Everyone's always told me to go Roth. I hadn't even thought about changing the strategy." Recently told a client switch their 401(k) contributions from Roth → Pre-tax. Here's why 👇 → The client had jumped up into the 32% tax bracket over the last couple years after spending most of his career in the twenties. → They aren't likely to pay 32% taxes in retirement based on their current level of retirement savings + contributions. → Most of their savings are in taxable brokerage and Roth accounts, so their RMDs won't be large relative to most Americans with their level of wealth. → They want to retire early, leaving them a good window to convert their pre-tax balance to Roth when they retire into a lower tax bracket. → They are charitably inclined and can give out of their IRA in the future via Qualified Charitable Distributions (QCDs). Even if overall tax rates go up, it still makes sense for this couple to contribute pre-tax for the foreseeable future. I tell more people to contribute to Roth. But finance is personal. . . . Disclosures: thrivent.com/social

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Just had a strategy meeting with a planning client. Here's what we did 👇 ✅ Consolidated multiple bank savings accounts to get a higher yield on cash. ↳ Impact: Higher interest, fewer logins ✅ Sold appreciated & depreciated stocks at a net zero capital gain impact and reinvested in a taxable brokerage account of ETFs. ↳ Impact: More diversification, less market risk ✅ Recommended the backdoor Roth IRA strategy. ↳ Impact: More money growing tax-free . . . Disclosures: thrivent.com/social

Just had a strategy meeting with a planning client. Here's what we did 👇 ✅ Consolidated multiple bank savings accounts to get a higher yield on cash. ↳ Impact: Higher interest, fewer logins ✅ Sold appreciated & depreciated stocks at a net zero capital gain impact and reinvested in a taxable brokerage account of ETFs. ↳ Impact: More diversification, less market risk ✅ Recommended the backdoor Roth IRA strategy. ↳ Impact: More money growing tax-free . . . Disclosures: thrivent.com/social

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Met with a client that rolled over their pension into an IRA invested 100% in CD’s when they retired. I wish I had the opportunity to meet with them before they made that decision. Here’s why 👇 → They didn’t want to take any risk with their investments. → They wanted to spend down their assets and not leave behind a huge inheritance. By taking the life annuity on their pension, they could… ✅ Increase their purchasing power dramatically. ✅ Rely less on their investments to cover their living expenses. ✅ Spend their assets down to zero knowing that they won’t outlive their pension (and Social Security) income. ✅ Have less administrative headache vs. constantly renewing CD’s as they mature. PSA - Please don’t let anyone you know make a major decision on their pension without talking to a professional first. . . . Disclosures: Thrivent.com/social

Met with a client that rolled over their pension into an IRA invested 100% in CD’s when they retired. I wish I had the opportunity to meet with them before they made that decision. Here’s why 👇 → They didn’t want to take any risk with their investments. → They wanted to spend down their assets and not leave behind a huge inheritance. By taking the life annuity on their pension, they could… ✅ Increase their purchasing power dramatically. ✅ Rely less on their investments to cover their living expenses. ✅ Spend their assets down to zero knowing that they won’t outlive their pension (and Social Security) income. ✅ Have less administrative headache vs. constantly renewing CD’s as they mature. PSA - Please don’t let anyone you know make a major decision on their pension without talking to a professional first. . . . Disclosures: Thrivent.com/social

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Tax refunds aren't bonuses. They're interest-free loans to the government.

Tax refunds aren't bonuses. They're interest-free loans to the government.

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Thrivent and its financial professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.

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