Convert 401k to Roth Ira
"Your 401(k) Is a Ticking Time Bomb" covers the strategy of converting a 401(k) to a Roth IRA, which involves moving funds from a traditional 401(k) plan into a Roth IRA account. This conversion can be advantageous as it allows future withdrawals to be tax-free, assuming certain conditions are met. While the conversion amount is subject to income tax in the year of the transfer, the long-term benefits of tax-free growth and withdrawals can outweigh the initial tax hit. This strategy can also reduce Required Minimum Distributions (RMDs) and provide greater flexibility in managing retirement income and tax liabilities.
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