Retirement Tax Bombs: How Roth Conversions May Cut the Blue Wire

Pliers cut a blue cable against a black background.

Will you be in a lower tax bracket during retirement? Some retirees who expect that break when their working years are over often get an unwelcome surprise.

Retirement accounts, such as 401(k)s and IRAs, are often sold on the premise that you defer paying your income taxes while you're working because you'll be in a lower tax bracket when you take money out in retirement.