Roth IRA | The Basics
In combination with tax-loss harvesting, you could get both lower taxes (see your accountant for counsel) and have the gains tax-free, without changing the risk of your overall portfolio.
There can be a silver lining for those contributing from non-qualified (post tax) accounts. For qualified accounts, you would need to convert (which is different from contributing), in which case, you would be receiving taxable income. That means that you would be required to pay taxes on the amount that you convert (in April 2024).
Given that there are higher interest rates now, the interest earnings could, in effect, ‘make up’ for the tax bill that you would owe in 2024.