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Is It Too Late for a Roth Conversion at 65? I Have $1.2 Million in an IRA and Want to Minimize My Taxes

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Summary
Nutrition label

82% Informative

A Roth conversion shifts retirement money from a traditional IRA to a Roth IRA.

Roth IRA contributions use after-tax dollars, so you don’t get a tax break when you make contributions.

Roth accounts are not subject to required minimum distributions (RMDs) Without RMDs, Roth funds can stay invested and grow tax-free forever.

There are a lot of moving parts when evaluating a large Roth conversion.

Converting everything now provides certainty you’ll know exactly how much you have to pay.

Paying taxes now on a lump sum conversion or a series of larger conversions may ultimately save you if tax rates increase in the future.

VR Score

80

Informative language

77

Neutral language

65

Article tone

informal

Language

English

Language complexity

43

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

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