Reported 3 days ago
Considering a Roth conversion from a 401(k) can reduce required minimum distributions (RMDs) and taxes in retirement, allowing tax-free savings for heirs. However, converting a significant percentage may trigger a high current tax bill, potentially placing you in a higher tax bracket. It's crucial to strategize conversions over time and consult with a financial advisor to optimize tax impacts based on your retirement goals.
Source: YAHOO