Reported 14 days ago
There are no age limits for converting a 401(k) to a Roth IRA, even at 65 while receiving Social Security. However, the financial benefits may be minimal compared to the taxes owed on the conversion amount. A Roth conversion allows tax-free growth and withdrawals later, but it could raise taxable income significantly if the entire amount is converted at once. For seniors, the decision to convert should consider their current and future tax situations, as well as their long-term growth potential. It is advisable to consult with a financial advisor to navigate these complexities.
Source: YAHOO