I’m 59 With $1.3 Million in a 401(k). Should I Convert $130,000 Per Year to a Roth to Avoid RMDs?

April 17, 2024   Retirement,Social Security,Taxes
Converting a 401(k) into a Roth IRA can be appealing for several reasons. Not only can you make qualified withdrawals from Roth accounts tax-free, but Roth accounts are also exempt from required minimum distributions (RMDs.) That can give you more flexibility when withdrawing from your account in retirement and potentially save you money on taxes. If […] The post I’m 59 With $1.3 Million in a 401(k). Should I Convert $130,000 Per Year to a Roth to Avoid RMDs? appeared first on SmartReads by SmartAsset.