@robwtaz wrote:
Thank you for your response and information. For clarification, I am 66 years old, married, retired, and not collecting SS. It seems like converting to Roth might be the best option. What do you think about QLACs?
Thank you
A Roth conversion is all taxable in the year of the conversion. Unless you have other funds to pay the tax with, using IRA money to pay the tax is not likely to pay off (break even point) for many years since that money is gone from the IRA and can not longer have earnings and grow.
For a QLAC see this article: https://www.forbes.com/advisor/retirement/qlac-rmds/
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
