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 ...

A n IRA conversion to Roth is a popular pre-retirement or early retirement move. Roth IRAs offer several benefits that traditional retirement plans don’t. Not only are investment gains in a Roth IRA ...

I retired in 2022 at 62 years old. I have a $2,900 monthly pension and draw $1,900 per month in Social Security. I have ...

At some point, your client may want to do a Roth conversion: move some or all their money from a traditional 401(k) to a Roth 401(k) plan, or a traditional IRA to a Roth IRA. Roth conversions have tax ...

For many Americans, taxes will most likely be one of their largest expenses in retirement. With some provisions in the Tax Cuts and Jobs Act coming to an end in 2025, there seems to be an additional ...

A CFP explains how to convert a $1.6M 401(k) to a Roth IRA without triggering high taxes, plus tips on timing, tax brackets, and working with a pro.

Having financial flexibility in retirement — especially in being able to maximize your spending while minimizing your taxes — is an optimal situation. And it’s one you can arrange by keeping at least ...

Your IRA is an IOU to the IRS. An important concept for conversions is the idea of doing a series of conversions, staged conversions over several years versus all in one year. Once you convert, you ...

The Tax Cuts and Jobs Act (TCJA) expires at the end of 2025. If nothing is done, taxes will revert to the previous rates and eliminate many features of the TCJA, including the very popular higher ...

Most investors understand that they need diversification in their portfolios. As a result, they are fairly good about settling on a mix of aggressive, moderate-risk and low-risk investments. Profit ...

'We have invested assets of $8 million, of which $3.2 million is in 401(k)s or IRAs' "We have invested assets of $8 million, of which $3.2 million is in 401(k)s or IRAs." (Photo subjects are models.) ...