Consider a Roth IRA Conversion

If you believe there’s a chance for the stock market to recover before you reach your retirement age, it might be a good idea to convert a traditional IRA to a Roth IRA, advised Travis Cook, CFP, president of Convergence Financial.

“The ideal time to fund a Roth IRA is when the market is low, and by converting to a Roth IRA, you can convert a greater number of your investment shares due to the market decline,” he said. “Even though converting your traditional IRA to a Roth IRA means you’ll have to pay some taxes now, you’ll be paying fewer taxes than you would down the road when your investments were up because the current value of your portfolio is probably lower.”