Retirement savings can provide financial security, but taxes can affect how much money you actually keep during retirement. For Wisconsin residents, understanding when and how retirement accounts are taxed can help create a more flexible long-term plan. One strategy worth understanding is a Roth conversion , which moves money from a traditional retirement account into a Roth account and requires taxes to be paid on the converted amount in the year of conversion. The goal is to manage taxes over time instead of facing a larger tax burden later.
What Is a Retirement Readiness Assessment?