In a Roth conversion, you take funds out of a traditional pre-tax individual retirement account, pay the federal, state and local income taxes owed and deposit the funds in a Roth IRA, where your savings grow tax free. In retirement, all your withdrawals will be tax free. You can even leave the Roth to your kids or grandkids as an income-tax-free inheritance. Here are 10 reasons a conversion might work for you.
In a Roth conversion, you take funds out of a traditional pre-tax individual retirement account, pay the federal, state and local income taxes owed and deposit the funds in a Roth IRA, where your savings grow tax free. In retirement, all your withdrawals will be tax free. You can even leave the Roth to your kids or grandkids as an income-tax-free inheritance. Here are 10 reasons a conversion might work for you.
Share this Article
Comment on this Article
Recommended
Please to comment