These are common (and costly) Roth IRA conversion mistakes. Here’s how to potentially avoid them

Using a Roth IRA during market downturns may be smart, but it isn’t for everyone. Here are three critical mistakes you need to avoid and three solutions to fix the mistakes you make.

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Source Article: https://www.cnbc.com/2022/10/11/these-are-common-and-costly-roth-ira-conversion-mistakes.html

Please remember that converting an employer plan account to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA. Investment advisory products and services made available through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. Investing involves risk, including the potential loss of principal. Any references to protection benefits, safety, security, and lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified tax professional for guidance before making any purchasing decisions. Our firm is not affiliated with the U.S. government or any governmental agency. This material is intended to provide general information and is believed to be reliable, but accuracy and completeness cannot be guaranteed. Investment advisory services made available through AE Wealth Management, LLC (AEWM). AEWM and Gregory Ricks & Associates are not affiliated companies. 1605202- 12/22.