One of the most talked about retirement planning points is Roth conversions, and for good reasons,

because in some case, a good Roth conversion strategy can save you hundreds of thousands of dollars

or even more. But at what point do they become worthwhile? Is there a portfolio value one needs

to have before implementing this type of strategy? And alternatively, is there a portfolio value

at which you don't need to worry about

this? That and more is what we're going to discuss on today's episode of Ready for Retirement.

This is another episode of Ready for Retirement. I'm your host, James Cannell, and I'm here

to teach you how to get the most of the life with your money. And now, on to the episode.

Today's episode is based upon a listener question. This question comes from Danny. Danny asked the following. He says, I really

appreciate all the great information in your podcasts, and especially that you take feelings into account

when giving options. One thing that I have noticed is that you most often give advice to portfolios

of between $1 and $2 million. That makes sense because there's a greater tax impact for those people.

I am retiring in March and I will receive $65,000 per year from Social Security and a pension.

I have two 401ks with a combined value of $400,000, and our mortgage is paid off, so I shouldn't

need to tap into them for a few

years. I'm wondering how some of the usual advice regarding Roth conversions versus the impact

of RMDs, required minimum distributions, and surviving spouse issues apply with a smaller

portfolio. Thanks again for all the information you provide, Danny. Well, Danny, thank you for that

question. I appreciate it. And you are right.

I think typically, at least when we're talking about tax planning points, I am talking about

portfolios that are maybe one, two, three million dollars or more, not because tax planning

is unique to that, but because there is more tax planning opportunity the larger your portfolio

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