It's a process of converting money from a traditional IRA or a 401(k) plan into a Roth IRA. The main difference between the two is that traditional IRA and 401(k) contributions are pre-tax, which means you pay taxes on them when you withdraw the money during retirement, while Roth IRA contributions are after-tax, which means you pay taxes on them when you contribute the money, but not when you withdraw it during retirement.
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