We're 50 with $1 million in a IRA and want to convert it to a Roth - should we do it now or wait until 65?

Conventional wisdom suggests waiting until the age of 65 to 70 to take advantage of the lower tax bracket. However, the poster found recommendations advocating for conversions within their current 24% tax bracket.

Understanding Tax Brackets: The common wisdom of converting between ages 65 and 70 is largely due to tax brackets. During these years, you're likely making less, so the money will be taxed at a lower tax bracket.

Most Roth conversion tools emphasize maximizing estate value, which considers how tax-efficient your assets will be when your heirs inherit. Converting now can reduce the tax burden on your beneficiaries.

By converting to Roth accounts now, your investments can continue to grow tax-free for a long period, which highlights the long-term benefits of making such moves sooner.

Read at 24/7 Wall St.