✉news BusinessPersonal Finance first seen 3 d ago, last 3 d ago, peak #24
Converting $40,000 a Year for a Decade Could Leave a $570,000 Tax-Free Roth
Original: Convert $40,000 a Year From 62 to 72 and the Roth Holds About $570,000 at 73, With No Required Withdrawal on Any of It, Ever
A personal finance analysis outlines a strategy of converting $40,000 a year from a traditional retirement account to a Roth IRA between ages 62 and 72, which by age 73 would leave roughly $570,000 in the Roth. The appeal is that Roth accounts carry no required minimum distributions, so the money can keep growing tax-free for life and be passed on without forced withdrawals.
Why now: Retirees approaching the age when required minimum distributions kick in are looking for ways to reduce future tax bills.
Rank over time, top of the chart is #1. 2 snapshots from 3 d ago to 3 d ago.
Evidence
- Convert $40,000 a Year From 62 to 72 and the Roth Holds About $570,000 at 73, With No Required Withdrawal on Any of It, Ever · 24/7 Wall St.
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