Retirement Planning Service

Retirement planning is a complex process. From creating a savings fund to evaluating your financial risks, there is no shortage of tasks you need to complete to adequately prepare for your golden years. At Atlas Wealth Strategies, we assist with preparations by offering the following retirement planning services:

  • 401(k) Rollovers: A plan participant leaving an employer typically has four options (and may engage in a combination of these options), each choice offering advantages and disadvantages.
    • Leave the money in his/her former employer’s plan, if permitted;
      • Roll over the assets to his/her new employer’s plan, if one is available and rollovers are permitted;
      • Roll over to an IRA; or
      • Cash out the account value.
  • Roth IRA Conversions: This involves transferring funds from a tax-deferred IRA to a tax-exempt Roth account.
  • Retirement Spending Needs: We help you estimate and save the amount of money needed to live comfortably in retirement.
  • Retirement Medical Costs: We help prepare for any medical expenses that may arise during retirement.
  • Risk Management in Retirement: We review the risks you may encounter in retirement, such as unforeseen medical expenses or tax increases.

Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.

What is retirement planning?

What is retirement planning?

Retirement planning involves establishing the income you need for retirement and taking actions that help you meet your funding goals. This includes determining your income sources, considering any leisure, medical, and housing expenses, putting aside savings, and reviewing your financial risks. Planning for retirement is important because it reduces the risk of running out of funds later in life, ensuring that you have a comfortable, happy retirement.

When Do Conversions to Roth IRA Make Sense?

Tax brackets and time until retirement are the most important considerations when deciding if a Roth conversion is your best option.

With individual tax brackets shrinking, you may foresee shifting into a higher tax bracket after retirement. By making a Roth conversion, you won't pay any taxes when you're ready to withdraw. Though it can be burdensome to pay taxes upfront, it can mean significant savings later.

If you decide to convert to a Roth IRA, the money must stay in that account for a minimum of five years. Withdrawing early will result in a 10% penalty and additional income taxes. That means for an IRA to be beneficial, you must have adequate time available before retirement.

Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.


What Are IRA to Roth Conversions?

What Are IRA to Roth Conversions?

A Roth conversion, simply put, is moving assets from a qualifying retirement plan into a Roth IRA. There are a couple of ways to accomplish this. One is by rolling over assets from the previous IRA directly into a Roth IRA via a financial institution. The other option is that the IRA owner can withdraw and distribute assets from their current plan into the Roth IRA themselves, so long as they do so within 60 days of receiving the distribution. Regardless of which option you choose, the process is heavily regulated due to the significant tax implications. All conversions should be overseen by a tax professional.

Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.


Frequently Asked Questions

There are no limits to how many conversions you can make per year. In some cases, a multi-year Roth conversion plan may be the best option.

The funds transferred during a Roth IRA conversion will be taxed as income for the year and possibly subject to higher tax brackets. It's best to consult a tax professional to accurately estimate your liability.

You must wait five years after your first contribution before withdrawing your earnings. The five-year period begins on the first day of the tax year you contributed to the Roth IRA.

No, anyone is eligible to convert regardless of their income or tax filing status.

Traditional, SIMPLE and SEP IRAs, as well as some 401(k) plans.

Have more questions?

Don't navigate this difficult process alone. Let us help you to better understand all of your options, to find out more about the Roth IRA conversion process and if it is the right fit for your financial needs.

When should I start planning for retirement?

When it comes to making retirement plans, you can never start too early. Ideally, you should start saving in your 20s, once you have finished school and started working. Most employers help individuals save for retirement through 401(k)s, which take pre-tax money out of your paycheck and preserves it in a separate account.

When Do Conversions to Roth IRA Make Sense?

Tax brackets and time until retirement are the most important considerations when deciding if a Roth conversion is your best option.

With individual tax brackets shrinking, you may foresee shifting into a higher tax bracket after retirement. By making a Roth conversion, you won't pay any taxes when you're ready to withdraw. Though it can be burdensome to pay taxes upfront, it can mean significant savings later.


Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.



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When should I start planning for retirement?

When it comes to making retirement plans, you can never start too early. Ideally, you should start saving in your 20s, once you have finished school and started working. Most employers help individuals save for retirement through 401(k)s, which take pre-tax money out of your paycheck and preserves it in a separate account.

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