Year-End Personal Finance Checklist - Roth Conversion

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A Roth conversion refers to taking all or part of the balance of an existing traditional IRA (or 401(k), 403(b), 457(b), etc.) and moving it into a Roth IRA. The point is to pay the tax now so that the assets can grow tax-free for the rest of your life. One of the myths we frequently hear from people refusing to do a Roth conversion is that: I will be in a lower tax bracket when I'm retired and I will pay my taxes then. Dan and Tim discussed it and explained why this may or ...