Traditional or Roth IRA...5 years from retirement

[Hawkeye225]

Due to some events that I've shared here before where I had to decrease my work last year due to a health issue (now fixed!!!!), my wife and I actually qualify for either/or a traditional IRA or Roth IRA for 2016, $6500 each (in addition to 43k that I've already put in 401k).  I'll probably work part time for another 5 years or so and currently have about 1.6m in tax deferred and 1.6m in taxable accounts, net worth around 4m.  I'm in my late 50's.

I've thought about contributing this money to a Roth to help pay for ultimate RMD's (but then I already have some taxable money) and for never pay tax on them again reasons and traditional for the immediate tax savings.  Can't decide.

What say you?  Thanks.

[jfoxcpacfp]

Congratulations on your improved health. Count me in the Roth camp, especially given your tax bracket. Given your current situation and plans, financial planning strongly encouraged.