Reported 3 days ago
This article explores whether it's beneficial to convert funds into a Roth account in the same year required minimum distributions (RMDs) commence. While RMDs, mandatory withdrawals starting at age 73, are taxable, Roth accounts are not subject to them and offer more control over future distributions. The article suggests that incremental Roth conversions can lower overall tax liability but requires careful consideration of current and future tax brackets, retirement income, and social security implications.
Source: YAHOO