Should you convert your IRA to a Roth IRA?

Many healthcare practice owners are told that Roth conversions are always a smart move. But the reality is much more complicated.

In this episode of the Financial Beast Podcast, Eric Miller and Eric Gersch break down when Roth conversions make sense, when they can create massive tax bills, and how healthcare practice owners should think about retirement income, tax planning, and wealth preservation.

You'll learn:

• The 3 major tax buckets every investor should understand
• How Roth conversions actually work
• Hidden tax traps that catch practice owners off guard
• Why timing matters when converting retirement accounts
• When selling your practice may create Roth conversion opportunities
• How required minimum distributions (RMDs) impact retirement planning
• Strategies to reduce future tax burdens

If you're a veterinarian, physical therapist, optometrist, dentist, physician, or healthcare practice owner building significant retirement assets, this episode is essential viewing.

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CHAPTERS 00:00 Roth Conversion Warning for Practice Owners 01:30 Introduction 03:50 Understanding Roth Conversions 06:13 The 3 Types of Tax Treatment 06:55 Taxable Investment Accounts Explained 08:55 Tax Deferred Accounts Explained 11:33 Tax Advantaged Accounts Explained 13:20 What Happens During a Roth Conversion 14:45 The Hidden Tax Bill 17:59 When Roth Conversions Make Sense 20:10 Selling Your Practice and Tax Opportunities 22:31 Avoiding Required Minimum Distributions 24:10 Why Most People Don't Convert 25:25 Retirement Income vs Tax Brackets 26:22 Why Retirees Often Feel Wealthier 26:48 Final Takeaways
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