Subject: Re: Roth Conversions
Sure, your pre-tax net worth would be higher at year 10.

This is why I post here.
You are right, I was combining pre-tax and post-tax funds. When I take a more sophisticated approach to the sum it does look like a wash (assuming the same marginal tax rate). If marginal tax rates go up or the RMD forces me into a higher marginal tax bracket then the conversion really makes sense. And the IRMAA penalty just compounds the problem.

Thank you BHM and AC for correcting my thinking.

Rgds,
HH/Sean