900 East Paris Avenue, Suite 100, Grand Rapids, MI 49546 | 616.559.45551131 West Superior Street, Wayland, MI 49348 | 269.792.0362Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC).
Insurance products are offered through LPL or its licensed affiliates. United Bank Bank and United Wealth Management are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using the name United Wealth Management, and may also be employees of United Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of United Bank or United Wealth Management. The United Wealth Management site is designed for U.S. residents only. The services offered within this site are offered exclusively through our U.S. registered representatives. LPL Financial registered representatives associated with this site may only discuss and/or transact securities business with residents of the following states: AZ, AR, CA, CO, FL, GA, IL, IN, ME, MI, MO, OH, OR, VA, and WA. Securities and insurance offered through LPL or its affiliates are:
The role of a Roth IRA conversion in your plan
To lower the taxes you pay in retirement. Because money deposited in a Roth is from after-tax income, you don’t pay income tax when you withdraw the funds in retirement.
Is a Roth IRA conversion for you?
If you pay the taxes on the converted amount now, you’ll watch your money grow tax-free for longer and enjoy tax-free withdrawals in retirement. While traditional IRAs require minimum distributions at age 72, in a Roth, you are not required to take any distributions during your lifetime, allowing you to leave a tax-free inheritance to your beneficiaries.
Beneficiary IRAs must be closed out in 10 years. Distributions from a Roth Beneficiary IRA are not taxable events.
Why United Wealth Management
We’re always striving to do right by you—to educate, empower and guide you to a more prosperous future. These tools with our guidance go a long way.
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.
Real Solutions for Real Life
Preparing for initial meeting
Gather financial statements and start a list of your current and future financial goals.
As your wealth management partner, we’re united in our mission to help you pursue your financial goals.
Education and tools
A few simple resources, like market information and calculators, can make managing your money so much easier.