Throughout the challenges of recent months, we’ve continued to safely serve investors’ needs. We are thoughtfully evaluating our office openings and in-person appointments. Learn More
A Roth conversion is a strategy that allows you to pay income taxes on some or all of your retirement assets today, rather than when you withdraw them in retirement. It's done by converting a Traditional IRA to a Roth IRA, and, with few exceptions, anyone is eligible to convert regardless of age or income.
Before converting your IRA, there are important tax rules and considerations. If you do decide to convert to a Roth, the taxes you'll owe for the conversion generally will be based on the value of the investments in your IRA at the time. Whatever amount you convert may be included as part of your taxable income in that year.
And remember: Converting a Traditional IRA to a Roth IRA is not an all-or-nothing decision – converting a portion of your Traditional IRA also is a strategy to consider.
Keep your end goal in mind when deciding to convert to a Roth. Consider these factors:
To determine if a Roth IRA conversion makes sense for you, an Edward Jones financial advisor can meet with you and your tax professional to explore the options.