An IRA isn't just an account — it's a tax decision you make every year. The difference between a Traditional IRA and a Roth IRA over 25 years isn't just structure. It's the difference between paying taxes on every withdrawal or paying nothing. PWR helps you choose right — and convert strategically.
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The mechanics are simple. The strategy is anything but. Which type to use, when to convert, how to coordinate with your 401(k), when to take RMDs, and how to structure the account for your beneficiaries — these decisions collectively determine whether your IRA works for you or for the IRS.
Get My Tax Strategy ReviewTraditional IRAs deduct now, tax later. Roth IRAs skip the deduction but never tax withdrawals or growth. The right pick depends on your current rate versus your future one — Traditional suits peak earners, while Roth often wins during lower-income years.
Between retirement and age 73, many hit their lowest lifetime tax bracket — the Roth conversion window. Converting Traditional IRA funds now means paying tax at a low rate, then owing nothing on that money again. The window exists; few use it strategically.
Traditional IRAs require distributions starting at 73, forcing taxable income whether you need it or not. This often raises tax brackets, triggers IRMAA surcharges, and taxes Social Security. Roth conversions before 73 reduce your IRA balance, potentially eliminating RMDs entirely.
Traditional IRA contributions reduce your taxable income in the year made — dollar for dollar, up to the contribution limit. For a married couple in the 24% bracket contributing the maximum, that's a $1,920 tax reduction per year, every year, during the accumulation phase.
Roth IRA qualified withdrawals — contributions AND all growth — are completely federal-tax-free. There are no RMDs. The account continues to grow tax-free during your lifetime, and passes to beneficiaries who receive tax-free distributions for up to 10 years.
Both Traditional and Roth IRAs give you control over your investments, your beneficiaries, your withdrawal timing, and your estate outcome — that a workplace 401(k) or pension plan cannot match. This control is the ultimate advantage of IRA ownership.
The Traditional IRA is the most widely held retirement account in the U.S. — but most holders don't manage it with a clear tax strategy. PWR ensures Traditional IRA assets are correctly positioned, coordinated with other accounts, and sized to minimize lifetime taxes rather than simply accumulate.
At a glance
2024 annual contribution limit
RMDs begin — plan well before
Current-year tax reduction
To Roth any time, any amount
Coordinate your Traditional IRA with your other accounts and model the optimal Roth conversion timeline.
schedule a free ReviewThe Roth IRA is the most tax-efficient vehicle in the U.S. tax code for retirement savings. Properly funded and managed, it creates a pool of completely tax-free money that benefits the account owner and their heirs for decades — with no RMDs, no income tax on growth, and complete withdrawal flexibility.
At a glance
Tax on qualified withdrawals forever
Never forced to take distributions
Option for high-income earners
Tax-free to heirs for 10 years
Are you using backdoor contributions? Optimizing the conversion window? Coordinating with your estate plan?
schedule a free reviewThe SEP-IRA (Simplified Employee Pension) is the highest-limit, simplest-to-administer retirement account available to self-employed individuals and small business owners. In 2024, you can contribute up to $69,000 — more than 9x the Traditional IRA limit — with a single annual contribution.
At a glance
2024 maximum annual contribution
Of net self-employment income
No ERISA filings or admin
Until tax filing due date
For self-employed professionals, a SEP-IRA is the highest-impact retirement contribution available.
schedule a free ReviewThe SIMPLE IRA (Savings Incentive Match Plan for Employees) provides small businesses with a streamlined, low-cost way to offer retirement benefits — with both employee salary deferrals and employer matching contributions, at a fraction of the complexity of a 401(k).
At a glance
2024 employee contribution limit
Employer match requirement
Maximum eligible employees
Minimal plan administration
Retain talented employees and reduce business taxes with a SIMPLE IRA built for your team.
schedule a free ReviewInheriting an IRA triggers a complex set of rules that vary based on your relationship to the deceased, the type of IRA inherited, and when the original owner passed. Misunderstanding the 10-year rule, RMD obligations, or spousal continuation rights can cause unnecessary taxation of the entire account.
At a glance
Non-spouse beneficiary rule
Tax on inherited Roth distributions
Continuation rights — special rules
As beneficiary — complex rules apply
Inherited IRA rules changed significantly in 2020. Are you distributing correctly?
schedule a free ReviewThe backdoor Roth IRA is a legal strategy that allows high-income earners — above the Roth income limits — to make Roth IRA contributions indirectly. A non-deductible Traditional IRA contribution is made, then converted to Roth, creating tax-free growth with no income limit restriction.
At a glance
Available at any income level
Maximum annual backdoor amount
Rule must be managed carefully
8606 required — PWR coordinates
High earners are leaving tax-free money on the table by not using this strategy every year.
schedule a free ReviewAn IRA can help you build retirement savings with flexibility, tax advantages, and a strategy designed around your future income needs. Plan smarter today so your money has a clearer purpose tomorrow.
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Whether you have a Traditional IRA, Roth IRA, or rollover opportunity, the right plan can help align your savings, tax approach, withdrawals, and long-term goals into one organized retirement strategy.
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Adjust inputs to model your Roth conversion strategy. Estimates only—advisors refine with full tax data.
Projected lifetime tax savings from converting now vs being taxed on RMDs later.
PWR puts your retirement planning, benefits guidance, and financial tools in one secure app. Access everything easily, track your progress in real time.
Every financial journey is different. PWR focuses on your goals, benefits, and timeline—delivering guidance built around you, not a generic plan.
PWR gives you access to workshops, live events, and podcasts that simplify complex financial topics into clear, practical insights.
Tax reduction is not about waiting until filing season. It is about planning ahead, organizing your income, reviewing deductions, coordinating retirement accounts, and identifying legal strategies that may help reduce unnecessary tax pressure over time.
