Latest / Caring for the Caregiver with Jan Attard
Episode Ten: Roth Conversion Myths
Today, we’re looking at a decision that asks us to think beyond this year’s tax bill.
As we approach age 73, we learn that A Roth conversion moves money from a traditional retirement account into a Roth IRA. The taxable portion generally adds to income in the year of conversion. In return, converting may reduce future required minimum distributions from traditional accounts. Roth IRAs do not require distributions during the original owner’s lifetime.
The question is whether paying tax now could improve the *lifetime* result. That takes careful planning around the amount converted, tax…
The skinny
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