Reported 2 months ago
Deciding when to convert a traditional IRA to a Roth IRA can significantly impact your future tax liabilities. This financial strategy involves moving funds from an account that has tax-deferred growth to one that allows for tax-free withdrawals. Experts suggest considering factors such as personal income changes, retirement phases, and market conditions when planning a conversion. Timing is essential, as lower income years can lessen tax impacts, and market downturns may provide opportunities to convert at lower valuations. It's crucial to evaluate individual goals and future tax implications before proceeding with conversions.
Source: YAHOO