Skip to content
All posts

ROTH IRAS Do Not Have To Be A Young Person's Game - Pt. 1

5 reasons to consider a Roth IRA conversion in your 50s.

If you aren’t earning a high income, then saving in a Traditional IRA pre-tax isn’t helping you save much in taxes. Conversely, doing a Roth IRA conversion when you are earning a larger salary doesn’t make sense to a lot of people who are looking at retirement in the near future, when their tax rates will plummet. Why pay higher taxes when relief is available through a Roth IRA conversion.

Like everything else there is plenty of exceptions available in the IRS tax code. Here are 5 situations when converting a tax-deferred Traditional IRA to a tax-free Roth IRA may make paying the tax privilege to do so a bigger advantage for your long-term financial plan.


If you want to leave a substantial legacy to your children or grandchildren a Roth IRA may help you meet that goal over time. Your heirs will be required to take a tax-free distribution throughout their life on the earnings of the Roth IRA as a beneficiary. So basically, your heirs will receive an annual tax-free bonus to remember you by. In this situation the primary goal is to position the Roth IRA to provide tax-free income for heirs, not to relieve a personal tax burden.

Continue on to read Pt. 2 here.