Strategic Roth conversions may help retirees avoid larger tax bills later in life. Andrey_Popov/Shutterstock
One of the main benefits of a Roth IRA is qualified tax-free withdrawals in retirement. But many people have spent decades saving in a traditional IRA or 401(k) for the up-front tax benefits.
Luckily, there’s something known as a Roth conversion. This is a process that allows you to convert funds from a traditional IRA into a Roth IRA, as long as you pay taxes on the converted amount.
