If you crave tax-free retirement income but make too much to contribute to a Roth IRA and don’t have access to a Roth 401(k) at work, a Roth IRA conversion may be exactly what you need.
With a Roth IRA conversion, you roll funds from a traditional IRA or 401(k) into a Roth IRA. You’ll need to pay the tax bill on the money you convert, and your converted funds continue growing tax-free until you take withdrawals in retirement.
