Understanding

Roth IRA Conversions.

“There’s more than one way to shine a penny.”

 

The Individual Retirement Account (IRA) is one of many retirement savings strategies that provide investors with potential tax benefits. While some of the differences between a traditional IRA and a Roth IRA are relatively minor, others are more significant. For starters, the income requirements for each type of account are different. One major barrier to entry that stops you from being able to reap these tax benefits is those pesky income requirements, right? Well, yes, but not entirely. This is where Roth IRA conversions come in.

Having a Roth IRA account might not always make sense in every situation, but it may potentially benefit your retirement and legacy plans in ways both big and small. Our guide this month outlines the conversion of a traditional IRA to a Roth IRA and identifies the consequences to take into consideration. There are no more Roth conversion do-overs these days, so it is critical to get conversions right the first time. Let’s get started!

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The information in our Guides is of a general nature and is provided solely for informational purposes; it is not individualized and does not constitute investment advice or an offer to buy or sell any security, product, service or investment.

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