Should we convert 401k to Roth?
Should we be converting 401k $$ to a Roth account?
Spouse 70 just retired
Myself 69 retired in 2025
Terry Says
It’s definitely time to ROLL your old 40lK plan to a rollover traditional IRA. Read this for an explanation of why, and how to do it: https://www.terrysavage.com/rollover-now/
After that, you could convert to a Roth, but you’d have to pay ALL the taxes now in exchange for future tax free growth and no required withdrawals. At this stage, it generally doesn’t make sense, because that conversion will increase your income for the year –and increase your Medicare Part B and D premiums.
But if you want to think more about a Roth conversion, read this: https://www.terrysavage.com/roth-conversions-2/
