I discussed some of these issues just yesterday with a financial planner (free via my TIAA investments). I have found most resources discussing Social Security don't fully consider significant pensions and other retirement funds and their related tax issues. As he explained, deferring SS until age 70 is a guaranteed 8% per year return on investment, tax free, for those years between 66 and 70. I am going to convert 2/3 of my 401 to Roth in the first few years when I retire, despite the big tax bite at 28 %, because there are no mandatory payouts for Roth when one turns 70.5 which would increase my annual income more when I probably won't need it and the tax consequences of that. This also really helps heirs too, as mxt1033 said, since an inherited traditional IRA is taxed as income to the heir when the money is taken out, and payouts are mandated if the deceased was 70.5 or older. I am going to leave 1/3 of my IRAs in traditional, because the payouts after 70.5 and any amount left when I die are not taxable if given to qualified charities, which I've designated as the beneficiaries of those.(And if I do need the money, it's there.) One thing to check for your parents is if IRA funds paid directly to educational institutions for tuition receive some special treatment.