Q.: I have about $57,000 in my traditional IRA and about $6,800 in a Roth IRA. I am 68½ now. I feel converting the money into a Roth IRA while in a low tax bracket before I turn 70 would be a good move. That would give me the maximum amount possible in my Roth IRA before I was forced to start withdrawing a portion. I have the money in a savings account to pay taxes.

Is this a good move? Is my thinking correct? I’d love your comments.

Best, Nancy

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Dan Moisand

Dan Moisand is a principal at Moisand Fitzgerald Tamayo, LLC in Melbourne and Orlando, Fla. He is a happily married father of two, a past national President of the Financial Planning Association, has been featured as one of America’s top financial planners by at least 10 financial planning publications.

When is the best time to convert my traditional IRA to a Roth?

Dan Moisand

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