Haley is nearing retirement and has significant savings in a traditional IRA. They are considering rolling over their savings to another plan to avoid mandatory minimum distributions (RMDs). Which plan should Haley consider to avoid RMDs?

A Roth IRA has no required minimum distributions during the original account owner's lifetime, so Haley could consider rolling over the traditional IRA funds to a Roth IRA. The rollover is generally a taxable conversion, so Haley should consider the tax consequences before proceeding.

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