6 Reasons That Now Might Be a Great Time to Convert Your IRA to a Roth IRA

When it comes to your 401(k) or traditional IRA, the IRS calls the shots. They tell you how much you’ll pay in taxes. They tell you when you have to take withdrawals. They tell your beneficiaries how much they’ll pay in taxes if you leave it as part of your estate.

But when you convert your traditional retirement account into a Roth IRA, you have the power to call your own shots. With a Roth IRA, you pay the taxes upfront and in most cases, if qualified, that means after your money has been in your Roth account for five years, your withdrawals are tax-free.

Our guide highlights how a Roth IRA can mean:

  • A tax-free retirement income stream, if withdrawals are qualified
  • No required minimum distributions
  • No early withdrawal penalties on your original contributions
  • A tax-free benefit for your beneficiaries

Our clear-eyed guide to converting your 401(k) or traditional IRA into a Roth IRA can be a powerful tool that can help you evaluate your options and adapt your retirement strategy.

Take control of taxes in your retirement. With a Roth IRA you pay taxes now to potentially minimize taxes later!