Daily Money - Use the Bear Market to Your Advantage

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June 21, 2022

When things don’t go as planned, there’s (almost) always a silver lining — even if it’s hard to find. If it’s raining, at least your grass is getting watered. If your favorite television show gets canceled, you have the chance to find another binge-worthy one from thousands of titles on Netflix and Hulu. And if stocks are in a bear market, your tax bill on a Roth conversion may be lower. Longtime Money contributor Martha C. White recently explained the reason for that last example. When you convert an individual retirement account (IRA) to a Roth IRA, you have to pay taxes on that money. But when your portfolio is down, as many are these days, your tax liability also drops. In other words, if a Roth conversion makes sense for you, this bear market may be an opportune time to take action.

— Mallika Mitra, lead investing reporter

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Timely Retirement News, Insights, And Advice

And whether or not it actually makes sense for you.

Sorry, buying the dip isn’t on the list.

This was the central bank’s largest increase since the year “Forrest Gump” was released.

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