I'm 65 with $400K in a traditional IRA. I plan to work into my 70s but I'm worried about taxes — should I convert to a Roth IRA and take the tax hit now while I'm still working?

If you plan to leave your IRA to. Skip to main content. Nasdaq+. Weekly Macro+. Scorecard. Market ... 2 Traditional IRA Quirks You Should Plan for Now March 22, 2025 — 05:33 am EDT.

There used to be what you might call “backsies” or a “do-over” on converting money from a traditional IRA to a Roth. You ...

The other factor to consider for FIRE investors is that money originally invested in regular retirement accounts—traditional IRAs, and 401(k) or 403(b) plans—can be moved into a Roth IRA.

If you don't have access to an employer-sponsored retirement plan, a traditional IRA is the next best thing. You will have more control over how your money is invested and managed with an IRA ...

For example, if you didn't contribute to your IRA in 2024, you can still stash up to $7,000 ($8,000 if you’re 50 or older) for 2024 in a traditional IRA by April 15, 2025.

By its definition, a traditional IRA is not a qualified retirement plan as it is not offered by employers, unlike 401(k)s, SEP, and SIMPLE IRAs, which make them qualified retirement plans.

I'm 65 with $400K in a traditional IRA. I plan to work into my 70s but I'm worried about taxes — should I convert to a Roth IRA and take the tax hit now while I'm still working? Monique Danao .

The Balaban Group, an independent life-insurance, benefits, and estate-planning firm serving affluent families since 1986, ...

Saving for retirement can be very difficult for married spouses who stay home to care for family or otherwise have little ...

2 Traditional IRA Quirks You Should Plan for Now. By Dana George – Mar 22, 2025 at 5 ... a traditional IRA is a smart way to add to your portfolio and help prepare for the future.