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URL:  http://boards.fool.com/i-will-celebrate-birthday-66-this-month-i-retired-19854819.aspx

Subject:  Re: sale of land Date:  11/14/2003  2:51 PM
Author:  johnb1662 Number:  37833 of 76418

I will celebrate birthday 66 this month. I retired four years ago.
My principal sources of retirement income are a life annuity [paid for by my employer of forty years] and social security. I have no present need to draw from my traditional IRA which is invested in aggressive growth stock mutual funds as a hedge against inflation which will reduce the value of the life annuity.

I have been on a program of converting some of my traditional IRA balances to Roth IRA balances each year. This is because I may be around for another twenty or thirty years so I think it is a good idea to pay the "ordinary income" taxes now in the hope that the "never taxed" accumulated earnings on the Roth investments are significant by the time I need to spend them.

Roth funds do NOT count for the "minimum distribution" rules applicable to people older than 70.5 years with "traditional" IRAs. The earnings between the time I pay the taxes on the converted funds until I draw them are NEVER taxed [under present law which of course the greedy [expletives deleted] in Congress can change any time.
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