Retiring soon? A Roth IRA conversion can lower your future tax bill. Convert your pretax IRA funds to a Roth IRA now, pay taxes upfront, and enjoy tax-free growth later. Ideal timing is during low-income years or before potential tax law changes in 2025. Be aware though, conversions can raise your Medicare Part B and D premiums due to higher MAGI. Consider smaller conversions to avoid jumping to a higher premium bracket. Talk to a financial advisor to see if a Roth IRA conversion is right for you.
