Just as retirement savers use investment diversification for accumulating assets, they need tax diversification for retirement income planning.
Guidance about investing and the accumulation of assets is only the beginning of genuine financial planning—a fact that has already been embraced by forward-thinking wealth managers.
Reflecting on the common conversations they are having with their near-retiree clients, advisers say there is broad certainty that taxes will increase in the future, and also a lot of fear about a market correction.
Investors might consider a Roth conversion now.
Every cloud has a silver lining. One opportunity presented by the recent market volatility caused by the coronavirus pandemic is the chance to create greater tax diversification in retirement portfolios.
It is designed to enable advisers to have deeper conversations with clients about various tax strategies.