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All Posts, Finances & Retirement

Money Monday: Converting Retirement Funds into a Roth

6869770873This is a question for my readers.

Now that there are no restrictions on converting a traditional IRA into a Roth, have you done so and what were the implications of the conversion?

I’d like to do this, but seems like such a major move and given everything that is happening in my life, I am reluctant to start hankering with my retirement money.

The conversion seems to make total sense since I assume we all expect to make more money and be in a higher tax bracket at 59.5 years. But wondering if anyone out there has gone through with it.

Here’s a retirement primer on LearnVest. I didn’t think it was all too informative, nor did I like the flow charts, but background nonetheless.

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02.26.13

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Comments

  1. affinity

    February 26, 2013 at 12:23 pm

    I am a big proponent of Roth Conversion. The biggest advantage is that the gain in your Roth is paid to you tax free. So it is not just deferred taxes but no taxes. I know it is a big hit when you make the transition but well worth it over time.

    The even better saving though is to be sure you are using your HSA well. Once again, money no taxes are ever paid on.

    Reply
  2. Andrea

    February 27, 2013 at 10:04 am

    I am completely ignorant when it comes to investments and saving for retirement. I do save, but am sad to admit that I don’t know much about my 401 despite meeting with a not-too-savvy credit union employee. I’d be interested in learning more if you’re willing to write a post on it! Thanks for sharing.

    Reply

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Welcome to my site, derived from an advice column I wrote while getting my MBA. I live in the San Francisco Bay Area. I give helpful, opinionated advice based on my own experience and from the expertise of my extensive network. For more, click here.

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