Reported 1 day ago
At age 50 and with $650,000 in a 401(k), considerations about executing annual Roth conversions up to the 24% tax bracket can significantly impact future retirement funds. Staggering these conversions may help minimize tax liabilities, allowing for tax-free growth in a Roth IRA. It's crucial to plan based on your broader income scenario and deadlines to ensure an effective strategy, while consulting with a financial advisor can provide tailored guidance.
Source: YAHOO