Have you been considering converting your traditional IRA to a Roth IRA? It may not be as simple of a calculation as you think it is. Depending where you are in life, there are a number of things that could be impacted by an IRA conversion, so you would be wise to do some serious analysis of whether it’s the right decision for you. For example, if you’re budget is tight when you are considering doing a conversion, you will want to calculate whether you can afford the taxes on such a move (and yes, there will be taxes…after all, your moving money from an account that taxes after distribution to an account that is pre-taxed). Another question that could have big implications is are you of the age in which you must take a required minimum distribution (RMDs)? If so, you need to be aware that you must take your RMD before you do the conversion. Forgetting to do so could lead to big-time penalties. These are just a few of the questions you will want to include as part of your analysis regarding whether a conversion is right for you. To avoid missing any important questions, I highly encourage you to include a certified financial planner or wealth manager in your analysis as they should be able to answer any questions you have and will be able to help you decide the right decision for you. Is an IRA conversion right for you?