Tag: Roth account
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I’m 60 With $1.1 Million in an IRA. Should I Convert $100,000 Per Year to a Roth to Avoid RMDs?
Required minimum distributions, or RMDs, are a problem for some retirees. If that’s your situation, a Roth conversion may be...
I’m Earning $275k This Year. Can I Use a Backdoor Roth Strategy to Reduce Taxes?
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I’m Planning a $900k Roth Conversion, but Do I Really Need to Wait 5 Years for Access?
Remember, the five-year conversion rule applies to money that you transfer from a pre-tax account into a Roth IRA.To recap, you must wait at...
‘With All Due Respect, This Makes No Sense’ – Suze Orman Explains Why This $1.6 Million 401(k) Rollover Plan Could Backfire
In a recent episode of her Women & Money podcast, Suze Orman took a firm stance on a complicated retirement strategy proposed by a...
I Want to Move $720k to a Roth IRA – Are There Ways to Cut Conversion Taxes?
As an example, let’s consider a single filing taxpayer who wants to roll over $720,000 from an old 401(k) to a Roth IRA. Here...