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 Time To Convert IRA To Roth IRA?

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Thump

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Posts : 2713
Join date : 2008-05-13
Location : Central Florida

PostSubject: Time To Convert IRA To Roth IRA?   Wed Oct 29, 2008 10:13 am

Rock might be the only one here who could benefit most from the conversion but he
probably doesn't have any IRA to convert. I'm going to give it a look though.
For any young people with the money it's a fine deal right now, with equities at this
low price the tax on the conversion would be less than it has been.
You have to pay income tax now on the amount you have in the IRA but after it
grows (hopefully) you won't have to pay taxes on the withdrawals.

After Helen retires we won't be paying so much income tax though if any so maybe
I'd just be wasting the money. I'll have to figure some more on that though.

Thump
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