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URL:  http://boards.fool.com/mother-asking-about-roth-conversion-12834150.aspx

Subject:  Mother asking about Roth conversion Date:  7/1/2000  1:22 PM
Author:  PTManBob Number:  23004 of 76237

Hello.
Mom is considering a Roth conversion of two IRA accounts she has (based upon recent conversation with a fincancial planner). Each IRA has approx $12,500 for a total of $25,000. She is 62.5 years old (63 in November). She was told that she would definitely benefit from converting at this time. I am not so sure...
She works as a RN. Plans to work until approx 70 years old. Puts $2,000 per year into a traditional IRA. Does not have a retirement plan at work...of any kind. Makes approx $49,000 per year. Has a home, partially paid off--otherwise, no retirement savings....except SS. Divorced by approx 20 years, lives alone. Interested in learning more about investing.
Am wondering if it would be better to just start putting money into a new Roth IRA, rather than convert. Does she not have to pay taxes to convert her traditional IRA? If I have read the recent posts clearly (thanks to TMF pixy and all others) then she would need approx 10 years for the Roth to become more favorable.
Any help, thoughts or advice would be appreciated. I shared with Mom that I would email any feedback to her and am encouraging that she go to the Fool site to learn more. She will, in time. Maybe this will get her even more interested.
Thanks for any thoughts.
Bob
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