u/Easy-Ant9037

I have $2M in a simple IRA that i want to convert to Roth IRA. I just retired at age 60 and I don't have an income for 2026 (sold my small business in 2025). I'm too young for social security and i wanted convert my simple to roth now before i collect on SS.

I know when i convert, it's considered "taxable income". Should I do this spread out over 5 years ($400,000 annually) or just do it 1 year ($2m one time)? What are my tax implications for converting (other than paying income tax on it)?

I don't have any bills in my life, other than health insurance and property tax (all other debts have been paid)

I have approximately $4,000 to $5,000 at the end of every month after all bills are paid. I have a $450,000 mortgage (30 year fixed, 3.25%) left on the house that is worth about $1m to $1.1m. We have no other debts (no car, no student, no credit card). We have term life insurance policies that are over $3m, we have health insurance. Really, our only expense is the mortgage and the credit card that is paid off every month. We have an IRA (simple) that we are maxing out of and we cannot enjoy the benefit of the ROTH IRA (because our MAGI is too high).

My wife has been listening to Dave Ramsey and he (and his minions, including his daughter and a psychologist) say to pay off the mortgage. It's at 3.25%. I want to invest in the stock market, some risky (single stocks like NVDA or TSLA or SpaceX), some safe investments. We're both going to turn 50 this year and our "catch-up" IRA contributions start this year.

Any suggestions? House? Stocks/bonds?