No. of Recommendations: 0
Is there any truth to the rumor that I heard from a friend of friend who overheard someone by a water cooler say that you have to wait a year after a Roth conversion before you can make a contribution.

Also, where's a good place to look for answers to Roth questions like these?

Thanks
Print the post Back To Top
No. of Recommendations: 0
Greetings, Fetchit, and welcome. You asked:

<<Is there any truth to the rumor that I heard from a friend of friend who overheard someone by a water cooler say that you have to wait a year after a Roth conversion before you can make a contribution.

Also, where's a good place to look for answers to Roth questions like these?>>


No, there is no truth to the rumor you heard. You may convert a traditional IRA to a Roth and still contribute up to $2K to a Roth in the same year provided you meet the Adjusted Gross Income limits for both.

For general reading on the Roth, you can check out my Foolish Retirement Plan Primer at http://www.fool.com/retirement . Kaye Thomas has an excellent series of articles at www.fairmark.com and other articles appear at www.rothira.com . And you can always ask specific questions here.

Regards….Pixy
Print the post Back To Top
Advertisement