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Investing/Strategies / Retirement Investing
|Subject: Re: IRA to Roth IRA Conversion||Date: 7/28/2013 11:09 AM|
|Author: aj485||Number: 72695 of 73907|
I have a substantial amount in IRA's and am retired in the sense that I am living off of my investment and rental income. I will not tap into my IRA funds for at least another 15 years.
So you are 56 or younger? Because if you're not 56 or younger, you will be required to start tapping your IRAs in the year you turn 70 1/2, which would be less than 15 years.
With this situation what do you think about converting an amount of my IRA to a ROTH IRA?
It's a good strategy to minimize future tax bills if you can ensure that you (1) won't need to withdraw the converted amount until you are at least 59 1/2, or the conversion has aged for 5 years, whichever is sooner (2) you don't move yourself into a higher tax bracket snd (3) you can pay the additional tax from other income/investments, without having to tap into the IRA
Am I missing something?? Does this make sense to you. Please advise
No, you aren't missing anything. It's a strategy that I plan on employing when I retire in a few years.
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