Converting IRA to ROTH IRA?
I have some CD's in an IRA, and was thinking about converting them to ROTH IRA CD's. I converted one $25K CD in Jan of 2012, and the I estimate the taxes twill be approximately $5,100.
I wanted to convert a couple of more to ROTH IRA CD's so the interest would grow tax free, and we wouldn't have to pay any taxes down the road. I'm 60 now, and would leave them in CD's for the next 5-10 years.
However, I'm thinking it might be better to invest the $5,100 in some of my stocks and funds, and the growth of that $5,100 should more than exceed the taxes I would have to pay (providing the market goes up over the next 5- 10 years.
Is my thinking process headed down the right road?