Roth IRA Conversion Guide
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Roth IRA ConversionSmartAsset
•Is It Too Late for a Roth Conversion at 65? I Have $1.2 Million in an IRA and Want to Minimize My Taxes
82% Informative
A Roth conversion shifts retirement money from a traditional IRA to a Roth IRA.
Roth IRA contributions use after-tax dollars, so you don’t get a tax break when you make contributions.
Roth accounts are not subject to required minimum distributions (RMDs) Without RMDs, Roth funds can stay invested and grow tax-free forever.
There are a lot of moving parts when evaluating a large Roth conversion.
Converting everything now provides certainty you’ll know exactly how much you have to pay.
Paying taxes now on a lump sum conversion or a series of larger conversions may ultimately save you if tax rates increase in the future.
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