You’ve saved your whole life using the conventional retirement tools like 401(k)’s and IRAs, good job!

While you’ve been enjoying the tax-deferred growth of your retirement accounts, the IRS has yet to take their cut. And when you hit your 70s, that’s when they start to get their fair share, whether you’re ready or not. How? Through Required Minimum Distributions (RMDs).

RMDs mandate that you begin withdrawing a portion of your tax-deferred savings once you reach a certain age. These distributions are taxable, and the catch is that the IRS doesn’t just take a small bite—they take a significant chunk. This could push you into a higher tax bracket, forcing you to pay more than you might have expected, and potentially impacting your other retirement plans.

But don’t panic just yet! There’s one key strategy that could help you rewrite this narrative: Roth conversions.