Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I have been building IRA's for nearly 30 years. A financial advisor recommended that I convert my existing IRAs to ROTH IRAs, so that I could avoid any future penalties. However, I would have to take the 28% penalty to do so now.

This didn't sound like a good idea to me, but I haven't been able to find anyone who knows about this possibility.

Appreciate any help, thanks.
Print the post  

Announcements

Live Video Event Monday!
The GP team is hosting a live video event on Monday at 4 p.m. ET. Don't worry if you can't make it — we'll have a replay and a transcript. Click for more!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement