Rollover Trad. IRA?

xminionJanuary 15, 2014

Almost 59 1/2 yo. Should I rollover my trad. IRA into a Roth?

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It all depends on your tax situation, because you'll pay a big chunk on taxes. Consult a professional and get an idea for the amount.

    Bookmark   January 15, 2014 at 9:06PM
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I had my accountant check out our options, she came up with 5 options and we choose to cash it in with a 10 year averaging plan. We paid a huge amount of taxes but got a lot of it back when we filed taxes. I do not want my money tied up in anything, especially don't want to worry about paying taxes on it when I need to take some of it out. My husband and I talked it over and he agreed with me.

We had a $2,000. IRA and I hated it. My bank forgot to send me a reminder and it would have cost me most of the dispersion as a penalty. The bank post dated it and I didn't lose any money.

    Bookmark   January 15, 2014 at 9:59PM
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I've been considering doing that, but haven't worked out the math yet.

I might convert just part of it.

    Bookmark   January 16, 2014 at 8:25PM
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