Nearing Retirement? Take Another Look at Roth Conversions
For those nearing retirement, taking the right planning steps is even more important, given the narrowing time frame to leaving the workforce. This current year brings forth planning opportunities to help you achieve your retirement goals that may not be available next year, because income tax rates could rise, especially given the amount of stimulus paid for the various COVID- 19 relief packages.
One possible strategy to look at, given generally lower tax rates and recent changes to laws governing retirement plans, is converting your current pretax retirement accounts to a Roth.
Taking Advantage of Lower Tax Rates and the Benefits of a Roth Conversion
The Tax Cuts and Jobs Act (TCJA), which was signed into law
