Consider a Roth conversion
Unlike traditional IRAs, Roth IRAs let your money grow on a tax-free basis, avoiding tax even when you take withdrawals in retirement. If all you have are traditional IRAs, you can convert all or part of them to a Roth,but you have to include the amount converted as taxable income in the current year. That won’t save you on your taxes this year, but if you’re in a low bracket and expect to be in a higher one later on, converting could end up saving you money in the long run.
