Reported about 7 hours ago
As a 60-year-old with $1 million in an IRA, you may be considering switching from a traditional IRA to a Roth IRA. This decision hinges on tax implications, opportunity costs, and your retirement income expectations. A Roth IRA offers tax-free growth and withdrawals, but requires upfront tax payments. You also need to consider your consumption timing and whether you expect your tax rate to rise in retirement. Consulting with a financial advisor can help clarify your options and tailor a strategy to your unique financial situation.
Source: YAHOO