Converting or Rolling Over Traditional IRAs to Roth IRAs
- March 11, 2021
In general, you can transfer all or a portion of your Traditional IRA funds to a Roth IRA. This can be accomplished in one of two ways: You can convert your Traditional IRA to a Roth IRA, or you can roll over funds from your Traditional IRA to a Roth IRA. There are many advantages, but the tradeoff is that all or a portion of the funds that you convert or roll over will be subject to federal income tax in the year that you shift the funds.
There are a number of facts to consider before transferring all or a portion of the funds from your Traditional IRA to a Roth IRA. Consult with a trusted professional to see if a Roth Conversion makes sense for your goals and financial situation.
SPENCER NURSE
Title:FINANCIAL ADVISOR, MANAGING DIRECTOR-INVESTMENTS
The Nurse Team has more than 50 years of combined experience in financial planning strategies. The team focuses on risk-adjusted investment management when assisting clients in addressing their retirement, educational, and philanthropic goals. Spencer and his team take direct responsibility of investment management for client portfolios. In the evolving markets and changes in clients’ lives, the team focuses on creating goal based strategies that are tailored to client’s specific situation at various stages in life.
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