See the video and additional information below.

Note that MaxiFi now has a Roth Conversion optimization option in the Premium and Professional versions. You will see it when you set up a maximization report. To help this feature run more quickly, you might first make sure that your Social Security strategy is optimized and then run the Roth Conversion optimization by itself instead of at the same time as the other maximization options.

Setting up a Roth conversion is pretty simple.

Although you do not have to do so in an Alternative Profile, it's helpful to do so because you can then see the two reports side by side and thus more easily evaluate the impact of the Roth conversion.

Begin by clicking on the area at the top by Base Profile and use the drop down selector to create an Alternative Profile. You can name it Roth Conversion.

Next, choose one of the retirement accounts for either spouse (if married) and MODIFY the IRA or 401(k) that you want to use to convert. Next, scroll down to the Roth Conversion Amount and enter the annual amount for the year or years you wish to convert. After completing that form, click SAVE at the bottom of that form.

Finally, select Profile Dashboard and then in the Comparison Report panel, click Run Report.

You can now evaluate the impact of this Roth conversion by comparing the two reports, noting first off the change in annual discretionary spending.

This case study may be helpful in understanding how Roth conversions can work.

Please note: There are rules related to how long you must wait to withdraw from a Roth account both after opening it and after contributions or conversions. MaxiFi does not account for these rules so you should consider them separately before implementing any conversion plan. This article provides some information about these rules, but you may want to consult with a tax or financial advisor.