Hi Pixy and Other Fools.I am 49 years old and not employed outside of the home (although I am considering independent contracting at themoment). My working spouse is 15 years older than me andplans to retire (formally that is) on December 31, 1998.We have over $200,00 in a 401K. I have about $50,000 inIRA's and $13,000 in a tax deferred annuity, and my spousehas about $15,000 in IRA's and about $70,000 in somethingcalled an FSP (not taking sick leave incentive money). Wealso have about $12,000 which I have invested in two separate portfolios of individual stocks (through a discountbroker). We also have about $30,000 in a tax free bond fund(returned 9% last year). All investments add up to about $435,000 (I did a portfolio report with Quicken). I am responsible for the money management. Do I have a lot of questions?!!!I need to plan tax stratagies. If I roll over some of my IRA funds to a Roth next year (in addition to the $2,000 new IRA contribution for that year), would it be a smartmove to spread the taxes due over four years, since we willprobably be in a lower tax bracket when my spouse retires?The only problem with this is that my spouse has this ideathat my spouse will be greatly enriched indirectly by thelicense of several of my spouses patents. A very cheerfulproblem to be anticipated!Also, we (I) need to plan what to do with the 401K plan funds. In addition to increased choices of funds in the plan, we also have the option of leaving the money in the funds when my spouse retires. We, having received the projection of pension amount and social security benefits,find that we will need to take some distributions from the 401K and/or IRA's as income. I have a financial planner(he does not charge a fee, just gets a commision on fundshe sells, and yes he is a certified, passed the test, witha masters degree, financial planner). He suggests that wemove the money from the 401 K funds into a managed fund,managed by a fund manager which can be changed at any timeif we don't think the performance is acceptable. What do youadvise here, Pixie? Or can you recommend reference material, books etc. to help me? To add a third question: What do you think of my becoming an independent contractor (part time sales) and itemizing business expenses separate from our personal retirement income? Would this help our tax situation? I know nothingabout reporting business expenses yet. Sorry the messageis so long, but you probably need a complete picture toanswer the questions. Thanks a million.goodfernuthin (but gaining non the less)
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