Pub 1 2020 Issue 6

drop-in-ira-balances-may-mean-rise-in-roth

Drop in IRA Balances May Mean Rise in Roth IRA Conversions

With the global economy experiencing an extraordinary decline over the past few months because of the coronavirus (COVID-19) pandemic, IRA owners may find their retirement savings balances are much lower than they ever anticipated. As many contemplate financial moves to improve their prospects for a financially secure retirement, there may be a positive side to the drop in account balances: it might just be an excellent time to convert to a Roth IRA.

Flourish

Flourish

When we flip our wall calendars to October, we’re regaled by images of pumpkins, ghosts and black cats. Halloween — the ultimate holiday of imagination — draws out the creative side in all of us.