Reported 1 day ago
While it's legally permissible to convert your $1.2 million IRA to a Roth IRA at age 70, practical considerations suggest it might not yield significant benefits. Converting means paying substantial taxes upfront, and with limited time for growth, the potential tax-free advantages may be outweighed by the tax burden. Thus, it's crucial to evaluate personal tax circumstances and consult a financial advisor to understand if such a conversion aligns with retirement and estate planning goals.
Source: YAHOO