Roth Conversions for 401(k)s
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Roth conversionsSmartAsset
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Business & Economics
I'm 62 With $850k in My 401(k). Is It Too Late for a Roth Conversion?
77% Informative
You can perform a Roth conversion at any age, and potentially boost your retirement income.
Roth conversions may make the most sense if you expect to be in a lower tax bracket after retirement.
Ultimately, whether converting a 401(k) at 62 is your best move depends on your individual circumstances.
Converting an $ 850,000 401(k to a Roth account at age 62 is legally and technically feasible.
The strategy could potentially save on taxes down the road, as well as provide your heirs with a tax-free inheritance.
A financial advisor can help you determine whether or not a Roth conversion suits your situation and needs.
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