Converting a traditional individual retirement account to a Roth IRA is a powerful way to reduce taxes in retirement. Essentially, you’re choosing to pay taxes now in exchange for tax-free withdrawals ...

New in 2025 is an extra $6,000 per individual, in addition to the standard deduction, for those over age 65 who meet the ...

Roth conversions and other Roth strategies can be complex, but don't dismiss these tax planning tools outright. They could ...

A Roth IRA conversion is available any time you have money in a qualifying pre-tax account. People choose to make a ...

When you reach retirement age, financial decisions become even more important as you are no longer generating income from ...

If you were planning a Roth conversion maneuver this year, the newly-introduced One Big Beautiful Bill (OBBB) doesn’t directly impact the strategy. However, it does have an indirect impact that could ...

Roth conversions increase current-year taxable income, but they allow clients to keep more of their money long-term. If they don’t convert, clients (or their heirs) will have to pay taxes on the IRA ...

Many investors only start seriously thinking about Roth conversions (if at all) once the year starts wrapping up. This is because you can no longer "recharacterize" or "undo" Roth conversions if you ...

Many investors within five years or so of retirement have the bulk of their savings in traditional tax-deferred 401(k)s and individual retirement accounts, instead of the after-tax Roth versions of ...

In 2025, a record 4.18 million Americans will turn 65. For those planning to retire soon, an important question arises: Does converting retirement savings from a tax-deferred account to a Roth IRA ...

When is a Roth conversion a good idea? Readers are confused about their strategies. Got a question about investing, how it fits into your overall financial plan and what strategies can help you make ...

'I know all about taxes, Medicare, growth rate, inflation, Roth conversions, etc.' "My question is how much should I convert in my 401(k) every year prior to turning 73 when required minimum ...