GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re able to read more about oureditorial guidelinesand our products and servicesreview methodology.
This allows you to take your distributions tax-free (though you do pay taxes when you convert).
Experts explained what any soon-to-be retireeneeds to know about a Roth conversion at this later stage of the game.
Considering a Roth conversion could enable retirees to allocate more money into their tax-free bucket.
Medicare premium surcharges are based on your income from two years ago.
Irreversible Transaction
Also, its important to remember that a Roth conversion is irreversible.
Once you convert the funds, you cant undo or reverse the transaction, Tierney explained.
So its a decision you want to make with the help of your accountant or financial advisor.
Before you do a Roth conversion, be sure you consult with your financial professional.
More From GOBankingRates
Share This Article:
The Latest inRetirement
