Plan For the Future with Roth IRAs

It is time to paint your overall tax picture as you prepare for the coming year’s tax filing. The recent downswing in the market may make you uncertain about your retirement accounts. It isn’t all bad, though; this swing presents an opportunity for you to explore Roth conversions. Consider the benefits of Roth IRAs as we transition into the tax season:

  1. Roth IRAs allow tax-free growth and tax-free withdrawals in retirement.
  2. There are no required minimum distributions over the account owner’s lifetime for a Roth IRA.
  3. Roth IRA can convert many different types of plans.
  4. Tax rates are scheduled to increase in 2026, so it is easier to plan now while rates and income levels are more known.
  5. While markets are down, it allows you to convert a more significant percentage of your account to Roth and set up more future tax-free growth.

Due to the complexity of tax law and planning, it is always best to reach out to an advisor before making any changes.

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