Key Points Rolling a traditional 401(k) into a Roth IRA triggers immediate taxes on the full conversion amount. Roth IRAs ...

Unlike employer-based 401(k)s, people set up individual retirement accounts (IRAs) for themselves. But similarly to workplace retirement accounts, traditional IRAs are funded with deductible pre-tax ...

Converting a traditional individual retirement account to a Roth IRA is a powerful way to reduce taxes in retirement. Essentially, you’re choosing to pay taxes now in exchange for tax-free withdrawals ...

With tax rates still low and retirement planning shifting rapidly, financial experts say converting to a Roth IRA now could ...

Getting the right tax advice and tips is vital in the complex tax world we live in. The Kiplinger Tax Letter helps you stay right on the money with the latest news and forecasts, with insight from our ...

This says that you must wait until the converted funds have been in your Roth IRA for at least five years before you can withdraw them penalty-free, if you are under age 59 1/2 at the time you want to ...

As the year winds down and we await the arrival of a new Congress, now may be the ideal time to review your retirement savings and consider converting some of your conventional IRA funds into a Roth ...

In life, you often get second chances — and the same is true with investing. To illustrate: You might not have been able to contribute to a Roth IRA during your working years due to your income level, ...

My good friend Bob from Munster had a question I thought merited visiting in the column. Bob’s question involved a topic we are dealing with more and more often in the practice and a tool we are using ...

A Roth IRA and traditional IRA both have the same goal: to help you save for retirement and ensure you don’t spend your golden years struggling to make ends meet. The key difference between a Roth and ...

If you want to make a regular Roth IRA contribution but are disqualified because your income is too high, you can circumvent the income limit by using the backdoor contribution strategy. The backdoor ...

Your converted funds must stay in your Roth IRA for five years before you can withdraw them penalty-free. Roth savings give you more control over your tax bill in retirement. If you're considering a ...