Converting now would enable you to spread a possible tax hit over more than one payment while reducing future taxes.

Explore the advantages of a Roth IRA, a flexible retirement savings account that enables tax-free growth and withdrawals.

Adding an influx of cash regularly to your account can help the account grow through compounding interest. The Roth IRA annual contribution limit is $7,000 in 2025 ($8,000 if age 50 and older).

How a Roth IRA Works . Whenever the investments in your account generate dividends or interest, those amounts are added to your account balance.

You place your Roth IRA contributions in various investments that will hopefully increase in value over time and earn you dividends or interest, which you can withdraw tax-free later. This can ...

If you can save some of your graduation cash, a Roth IRA offers a unique chance to grow your money 100% tax-free for ...

Why Roth IRAs are specialFor decades, deferred compensation programs allowed retirement savers to put off having to pay income tax on their earnings.By contributing to a traditional IRA, 401(k ...

But Roth IRAs are not only for the young, experts say. “There are definitely reasons to do it in your 60s, and even later,” Mattia said. Here’s one: Your peak earning years will not last ...

Considering a Roth IRA vs. a traditional IRA? Learn how they work, how they’re different, when it makes sense to open one versus the other and where to do so.

There’s a lot of interest this year in converting traditional IRAs and 401(k)s to Roth IRAs. Some people hesitate to convert their IRAs, however, because of concerns about the confusing “five ...

So if you convert traditional IRA funds to a Roth IRA in September 2024, your five-year clock begins on Jan. 1, 2024, and you could withdraw the funds penalty-free on Jan. 1, 2029.

A custodial Roth IRA is when a parent or other adult opens one for a minor. At age 18 (or the age of majority in your state), the child becomes the owner of the account.