News

Timing: Converting to a Roth often makes the most sense during lower-income years, in years when market values are down (allowing you to convert more shares for the same tax cost), or before RMDs begin at age 73. Conversions can be made regardless of income level.

Permanent decision: A Roth conversion is permanent; you cannot “recharacterize” the transfer back to a traditional IRA.

The 5-year rule: This rule generally prevents penalty-free withdrawals of converted earnings (and principal for those under age 59½) for five years, starting Jan. 1 of the conversion year. Consider whether you might need access to this money sooner.

FULL READ HERE - https://www.columbiamagazine.org/family/finances/2026/06/should-i-convert-my-traditional-ira-to-a-roth-ira/

Knights of Columbus, your premier partner for financial services, is for brother Knights, by brother Knights.

We’re here to partner with you.