6 reasons to do a Roth IRA conversion in your 50s or 60s

4 min read

Why do a Roth IRA conversion at your age?

Roth IRAs are often — and mistakenly — considered a younger person’s game.

Oh, a Roth can be a good choice for retirement saving when you’re just starting out and aren’t earning a lot, because a traditional, pretax IRA wouldn’t help reduce your taxes all that much.

Conversely, moving into a Roth IRA wouldn’t make sense if you are earning a big salary and are near retirement, when your tax rate will plummet. Why pay the upfront taxes that come with a Roth when relief is on the way?

But like everything else in the world of taxes and the IRS, there are plenty of exceptions.

Here are six situations when converting from a tax-advantaged traditional IRA to a Roth — and paying for the privilege — has big advantages.