Q: Your recent column on converting a traditional IRA to a Roth states that if you pay the conversion taxes out of the Roth IRA you just created, you’ll protect more of the assets remaining in your traditional IRA and the assets in our taxable account, but you’ll end up with less in your Roth. [...] [...more]
2010 is the year of the Roth IRA conversion. But is a Roth right for you? A change in federal law has eliminated income limits for eligibility to convert traditional tax-deferred retirement savings to Roths. As a result, mutual funds and financial advisers are marketing conversions this year with gusto. SilverPlanet.com is offering a free [...] [...more]
Q: My wife and I are both over 60 years old. We each made a $6,000 contribution to Roth IRA on April 1, 2009. We now realized that we are a little over the $176,000 maximum adjusted gross income limit (AGI) for tax year 2009 to qualify us to contribute to a Roth for 2009. [...] [...more]
2010 is the year of the Roth IRA conversion. But is a Roth right for you? A change in federal law has eliminated income limits for eligibility to convert traditional tax-deferred retirement savings to Roths. As a result, mutual funds and financial advisers are marketing conversions this year with gusto. Unlike a tax-deferred retirement account, [...] [...more]
Roth conversion buzz is heating up this year due to the change in federal law next year that lifts the household income limit for eligibility to convert traditional IRAs to Roth accounts. But Kathy Kristof reports at MoneyWatch.com that some financial services companies are using the Roth conversion opportunity to make unscrupulous pitches for other [...] [...more]
