3 Investing Moves You Must Make Before the End of the Year
It's hard to believe that we're just a few weeks away from 2022. Most people are preparing for the holidays right about now, but that's not the only thing that should be on your mind. There are only a few weeks left to make some key investing moves that could set you up for a brighter future and maybe even shave a little off your tax bill. Here are a few you may want to keep in mind.
A Roth IRA conversion enables you to change some of your tax-deferred savings into Roth savings in order to reduce your tax bills in retirement. Tax-deferred retirement accounts, like traditional 401(k)s and IRAs, give you a tax break this year, but you have to pay taxes on your withdrawals in retirement. To change this to Roth savings, which offers tax-free withdrawals, you have to pay taxes on the amount you're converting this year.
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Source Fool.com
