Reported about 1 month ago
The article discusses whether individuals in their 50s with $1 million in their 401(k) accounts should switch to Roth contributions before retirement. It emphasizes the importance of considering factors like age, tax implications, and contribution limits. While switching to Roth IRAs can be beneficial for future tax advantages, it may also increase current tax liabilities. Financial advisors suggest evaluating your future income and tax rates to make an informed decision about retirement funding strategies.
Source: YAHOO