Reported about 2 months ago
At 67, it's still possible for a couple with $1 million in IRAs to convert to a Roth IRA, which can provide tax-free income in retirement. Although there are no age or income restrictions for Roth conversions imposed by the IRS, the couple would face significant taxes if they convert their entire amount at once. Instead, spreading the conversion over time may be a more manageable approach while also considering the impacts on their tax brackets, healthcare costs, and estate planning. Consulting with a financial advisor can help navigate these complexities and optimize retirement income.
Source: YAHOO