gettyThere is also a lot of coverage on Roth conversions which is when an individual chooses to make a taxable withdrawal from their IRA or Qualified Retirement Plan and send the proceeds to their Roth IRA. But the Roth IRA, like that special bottle of wine, should be enjoyed. Do I have other assets that I can convert into my Roth IRA in the future? If you have other qualified plan assets that can be converted to a Roth IRA, this can reduce the hesitancy and reluctance around the Roth IRA withdrawal decision. This would be a de facto replacement of any assets previously withdrawn from Roth IRA.

Source: Forbes January 25, 2021 20:03 UTC