Traditional, tax-deferred retirement accounts, like 401(k)s and traditional IRAs, give you a nice tax break up front, but then you have to pay taxes on your withdrawals in retirement. Fortunately, if you don't want to deal with that, you can move your savings to a Roth account later on. 

These accounts give you tax-free withdrawals in retirement, which can be a huge relief to seniors living on a fixed income. But it's important to understand how a Roth IRA conversion will affect your finances both now and in retirement before you go through with it. Here are four key things to remember.

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Source Fool.com