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I'm 66 With $745,000 in a 401(k). I've Started Taking Social Security, So Is It Too Late to Convert to a Roth IRA?

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The IRS will let you move qualifying funds at any time as long as you can pay the resulting tax bill.

A Roth conversion is when you move assets from a qualified pre-tax account to a post-tax Roth IRA.

Roth IRAs do not require RMDs, which can be a boon for retirees.

You never have to take RMDs with a Roth IRA, which can further enhance the benefits of compound interest growth.

Diversification of income tax liability is inherently valuable in retirement, particularly for larger purchases.

You can save significantly on a Roth conversion by staggering your conversions, given the five-year rule.