This brings us to Roth conversions. You can convert some or all of a traditional IRA or 401(k) rollover IRA into a Roth account to take your tax lumps at that time, rather than face what might be bigger tax consequences when you begin withdrawing from a traditional retirement account. You can even make a series of Roth conversions over the years.
You might be seeing all sorts of advice in the financial media on how a Roth account is better and how it might be best for you to convert your account. But the decision is not simple and should not be taken lightly, and the assistance you get while making it might steer you in the wrong direction. In the Fix My Portfolio column, Beth Pinsker explained what you need to consider when deciding on a Roth IRA conversion.
Another conversion scenario: An adviser told me I can save 35% of the taxes on a Roth conversion. Is that true?
How to prepare for overwhelming expenses
Jessica Hall looked into a high estimate for the average lifetime out-of-pocket expenses for someone suffering from dementia and shared advice on how to prepare for it.
