We need help with a Roth conversion. We have SEP IRAs valued at around $4.8 million (his: $3 million and hers: $1.8 million) and joint taxable assets of about $650,000.
Does it make sense to do a Roth conversion in our situation?
If it is advisable to do the conversion, should we convert all at once or spread it out over a few years?
If we convert, does the 5-year rule apply to us?
Ages: 61 and 62
Total income: around $380,000 to $400,000 (planning to retire in the next 2-3 years)
Thank you in advance for your help.
Does it make sense to do a Roth conversion in our situation?
If it is advisable to do the conversion, should we convert all at once or spread it out over a few years?
If we convert, does the 5-year rule apply to us?
Ages: 61 and 62
Total income: around $380,000 to $400,000 (planning to retire in the next 2-3 years)
Thank you in advance for your help.
Statistics: Posted by stacato — Tue Oct 01, 2024 3:44 pm — Replies 9 — Views 291