To convert or not, that is the question

Trade offs of converting an IRA

The reasons to convert a pre-tax IRA to a Roth are very specific to your household income and assets. While getting the tax liability out of the way can be attractive, it comes with different pitfalls that one should aim to avoid. The above chart highlights some of those. As with any major financial decision, it is important to work with experts to determine the best path forward.