3 Investing Moves You Must Make Before the End of the Year

·4-min read
3 Investing Moves You Must Make Before the End of the Year

A Roth IRA conversion enables you to change some of your tax-deferred savings into Roth savings in order to reduce your tax bills in retirement. Tax-deferred retirement accounts, like traditional 401(k)s and IRAs, give you a tax break this year, but you have to pay taxes on your withdrawals in retirement. For example, if you had $5,000 in a traditional IRA and you wanted to put that money in a Roth IRA, you could do so, but the government would add that $5,000 to your taxable income for 2021.

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