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Skipping Roth Conversions Before 73 Could Cost Retirees Thousands

Original: Every Year a Retiree With $400,000 Skips a Roth Conversion Before 73 Costs About $3,500 in Extra Tax Later. Skip All 11 Years and the Bill Is About $38,500

A new analysis by 24/7 Wall St. calculates that a retiree with $400,000 in savings who delays Roth conversions before age 73 loses roughly $3,500 a year in extra taxes. Skipping conversions across all 11 eligible years would add up to about $38,500 in additional tax, as required minimum distributions later push income into higher brackets.

Why now: Retirees approaching age 73 are weighing whether converting to a Roth now saves money once required minimum distributions begin.

24/7 Wall St.Roth IRAInternal Revenue Service

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• Every Year a Retiree With $400,000 Skips a Roth Conversion Before 73 Costs About $3,500 in Extra Tax Later. Skip All 11 Years and the Bill Is About $38,500 · 24/7 Wall St.

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