Here are two hypothetical examples of Roth conversions made at different times that show a stark difference in what could be left for your beneficiaries.

Have you ever thought about the similarities between Roth IRAs and cookies? At first glance, they might seem like an unlikely pair, but bear with us for a moment. Imagine if nobody ever taught you how to bake cookies. Just like that, we're here to explain Roth IRAs to you through the delightful analogy of cookies.

Every type of financial vehicle has its own unique characteristics, including how it grows, how it's taxed and what it's used for. When setting up a retirement strategy, your financial advisor will begin by looking at two parts: how money goes in and how it comes back out.