Use this calculator to see if a Roth IRA is right for you. A Roth IRA is a great way to create tax-free income from retirement assets. Yet, keep in mind that when you convert your taxable retirement assets into a Roth IRA, you will generally pay ordinary income tax on the taxable amount that is converted. Individuals of all income levels are eligible to convert to a Roth IRA.
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IRAs provide potential tax advantages with tax-deferred growth or, sometimes, immediate tax savings. Choose from a Roth IRA or a Traditional IRA, both offering the opportunity to save for retirement with tax benefits.
Understand the rules regarding rollovers, transfers and aggregations of required minimum distributions for your IRA accounts.More on Rollovers