A Roth IRA conversion allows you to transfer funds from a traditional IRA to a Roth IRA, but you must pay taxes on the converted amount upfront while benefiting from tax-free withdrawals later.

A lot of people unfortunately enter retirement with very little money saved and wind up reliant on Social Security to make ends meet. And while there's nothing wrong with having those benefits ...

Jessica Gibson is a content update editor and writer for Investopedia. She has over 10 years of experience in digital publishing and three years of experience covering financial topics like insurance, ...