No. of Recommendations: 0
Not sure if this is the proper board to be asking such a question but...

My wife and I are in our mid-60's; she's retired - I'm not. Our retirement funds are in five different accounts: her regular IRA, my regular IRA, her Roth IRA, my Roth IRA and a joint taxable account. We do not withdraw from any of these funds and I do not anticipate doing so for at least three more years.

I normally have made the Roth IRA contributions by this time of the year from a bonus payout from my employer. This year, however, no bonus is being given. I could probably squeeze enough "new money" from our cash flow between now and next April to fully fund the Roths but it would be difficult. My question is, does it make any sense to fund the Roths by simply moving some money ($3500 each) from the taxable account? Is doing so even "legal"?

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.