Many people have taken advantage of the Roth TSP option since its inception in 2012. However, there are still many federal employees and service members with most of their retirement savings in traditional accounts. Naturally, this begs the question: “How do I convert my traditional account to a Roth account?” This is also known as a Roth conversion.
The more appropriate approach should be to ask two questions:
- Should I convert my traditional account to a Roth account?
- If so, how do I do this in the most effective manner? Effective manner indicates minimal loss of money through fees,