Roth conversions

6 smart moves for retirees to make now to save on next year’s taxes

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6 smart moves for retirees to make now to save on next year’s taxes

Now that the 2025 tax filing season is underway, it’s time to get a head start on next year’s return. This is especially true for retirees. As much as you’d like to think about your taxes beyond filing this year, it’s an opportune time to start planning ahead. “If you’re already retired, there are a … Read more

I am confused about the 5 year rule for Roth conversions. Does it apply to me?

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I am confused about the 5 year rule for Roth conversions. Does it apply to me?

According to one article by Brandon Renfro, there are three 5-year rules for Roth IRAs, but he talks about the first two as they apply to the reader’s question. He explains the 5-year rule for Roth contributions and the 5-year rule for Roth conversions. I’m only interested in the second rule because I’m thinking of … Read more

I am 62 years old with $900,000 in a 401(k). Should I convert $90,000 per year to reduce taxes and RMDs?

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I am 62 years old with 0,000 in a 401(k). Should I convert ,000 per year to reduce taxes and RMDs?

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Roth conversions at the end of life can require some tricky math. As you approach retirement, one of the most important questions will be how to handle taxes on your retirement income. For households that rely on pre-tax portfolios … Read more