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This article discusses the potential benefits and drawbacks of transitioning to Roth IRA contributions at age 60, particularly for individuals with a substantial 401(k) balance of $2.5 million. It highlights the differences between pre-tax traditional IRAs and post-tax Roth IRAs, focusing on how future tax rates and current earnings influence the decision. The piece emphasizes that while Roth IRAs offer tax-free withdrawals in retirement, switching contributions or rolling over a 401(k) to a Roth may not be beneficial for everyone and suggests consulting a financial advisor to navigate these choices.
Source: YAHOO