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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: Opening ROTH account/logistic Date: 2/25/2012 6:24 PM
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You can have your ROTH and eat it too - even if your MAGI isn't under the limit.

You put your money into a standard IRA. You immediately transfer it to a ROTH IRA. You're good.


For lurkers, this advice doesn't work for everyone. It works only if you have no traditional IRA account, including rollovers from prior employers, SEPs and SIMPLEs with pre-tax money in them. In that scenario you'll have taxable income from the conversion to Roth. See Part I of Form 8606.

Phil
Rule Your Retirement Home Fool
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