What are the benefits of an IRA Conversion?

A Roth IRA conversion trades a tax bill now for potential tax‑free income later. Once money is in a Roth and you meet the rules, qualified withdrawals of both contributions and investment growth are generally free from federal income tax. Roth IRAs do not have required minimum distributions during the original owner’s lifetime, so you keep more flexibility over when to take money out and how much taxable income you report each year. That flexibility can help you manage Medicare premiums, taxation of Social Security, and bracket creep. A conversion can also be a useful estate‑planning move, leaving heirs tax‑free assets instead of taxable traditional IRA balances that must be distributed over time.

Learn more about IRA conversion appraisals.