Roth Conversions:
I am aged 77 with a large traditional IRA. Would you advise making Roth conversions annually within my tax bracket at my age? Would this advantage me, my heirs, or both?
Terry Says
You’d need a financial planner to review your entire situation. Doing conversions at this stage could add to your income and increase your Medicare Part B premiums.
You’re already subject to required minimimum distributions, so just as a general guess, I’d suggest you stick with the traditional IRA. Be sure to name a beneficiary or beneficiaries.
