Comments on: Should You Do a Roth Conversion? http://www.mydollarplan.com/should-you-do-a-roth-conversion/ because money doesn't grow on trees Thu, 09 Feb 2012 14:28:55 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: lee http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-11615 lee Mon, 17 May 2010 19:19:18 +0000 http://www.mydollarplan.com/?p=1132#comment-11615 Hi, I need your guidance in Roth conversion for 2010. Here is my situation: - I’ll be non resident by jun-2010. Going out of US for 7 yrs (may be more) assignment with family. -I don’t have Roth IRA for now but have 401K from employer. In this situation How can I save money on my Roth Conversion? From next year I don’t have any income here in US so Can I withdraw from my IRA upto my standard deduction amount and put into Roth IRA to avoid penalty? What would be good strategy to lower my tax bill for 2010 and 2011 or infect coming years as well as avoid penalty on early withdrawal from 401K? Thanks for your help, Lee Hi,

I need your guidance in Roth conversion for 2010. Here is my situation:
- I’ll be non resident by jun-2010. Going out of US for 7 yrs (may be more) assignment with family.

-I don’t have Roth IRA for now but have 401K from employer.

In this situation How can I save money on my Roth Conversion? From next year I don’t have any income here in US so Can I withdraw from my IRA upto my standard deduction amount and put into Roth IRA to avoid penalty?

What would be good strategy to lower my tax bill for 2010 and 2011 or infect coming years as well as avoid penalty on early withdrawal from 401K?

Thanks for your help,

Lee

]]> By: TheGuru http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-11077 TheGuru Sun, 25 Apr 2010 03:18:20 +0000 http://www.mydollarplan.com/?p=1132#comment-11077 The taxes are not spread over 2 years with the conversion in 2010. The income from the conversion is permitted to be spread over 2 years. This is an important distinction as the income recognized upon conversion may be subject to higher income tax rates in 2011-12 than those that for tax year 2010. The taxes are not spread over 2 years with the conversion in 2010. The income from the conversion is permitted to be spread over 2 years. This is an important distinction as the income recognized upon conversion may be subject to higher income tax rates in 2011-12 than those that for tax year 2010.

]]> By: Dean Voelker http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10772 Dean Voelker Wed, 07 Apr 2010 20:16:32 +0000 http://www.mydollarplan.com/?p=1132#comment-10772 Great article on the Roth conversion. It isn't for everyone, but we all should be aware of the regulations which allow investors to spread the taxes over 2 years on the Roth conversion. Roth IRAs are still a "well-kept secret" in investing. We know about them, but not many people use them to the fullest. Putting money into a Roth is still an afterthought, even though we know it will be a good source of tax-free income at retirement if used properly. We need to pay ourselves first and save more in our retirement savings, especially if we aren't able to count on Social "Insecurity". Getting more out of our retirement savings is the main focus of my upcoming book, "Help! My 401(k) Has Fallen - And Must Get Up!" Please contact me about how to get a copy or my free report "The 5 Biggest Problems With 401(k) Plans - And How To Fix Them". Great article on the Roth conversion. It isn’t for everyone, but we all should be aware of the regulations which allow investors to spread the taxes over 2 years on the Roth conversion.

Roth IRAs are still a “well-kept secret” in investing. We know about them, but not many people use them to the fullest. Putting money into a Roth is still an afterthought, even though we know it will be a good source of tax-free income at retirement if used properly.

We need to pay ourselves first and save more in our retirement savings, especially if we aren’t able to count on Social “Insecurity”.

Getting more out of our retirement savings is the main focus of my upcoming book, “Help! My 401(k) Has Fallen – And Must Get Up!” Please contact me about how to get a copy or my free report “The 5 Biggest Problems With 401(k) Plans – And How To Fix Them”.

]]> By: Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Thirty-second Edition http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10632 Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Thirty-second Edition Wed, 24 Mar 2010 11:14:12 +0000 http://www.mydollarplan.com/?p=1132#comment-10632 [...] presents Should You Do a Roth Conversion? posted at My Dollar Plan, saying, “Does it make sense to convert to a Roth IRA this [...]

[...] presents Should You Do a Roth Conversion? posted at My Dollar Plan, saying, “Does it make sense to convert to a Roth IRA this [...]

]]> By: » H&R Block is Offering 24-Hours of Free Tax Advice | PT Money http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10614 » H&R Block is Offering 24-Hours of Free Tax Advice | PT Money Mon, 22 Mar 2010 04:26:57 +0000 http://www.mydollarplan.com/?p=1132#comment-10614 [...] Wisdom Journal shares 5 Ways to Disaster Proof Your Finances. My Two Dollars answers the question, Should You Do a Roth Conversion? Debt Free Adventure shares some nice Tips for Selling on Craigslist. Money Smart Life presents How [...]

[...] Wisdom Journal shares 5 Ways to Disaster Proof Your Finances. My Two Dollars answers the question, Should You Do a Roth Conversion? Debt Free Adventure shares some nice Tips for Selling on Craigslist. Money Smart Life presents How [...]

]]> By: Weekly Round Up- Bracket Buster Mania http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10612 Weekly Round Up- Bracket Buster Mania Sun, 21 Mar 2010 14:42:11 +0000 http://www.mydollarplan.com/?p=1132#comment-10612 [...] My Dollar Plan presents Should You Do a Roth Conversion? [...]

[...] My Dollar Plan presents Should You Do a Roth Conversion? [...]

]]> By: Great Articles To Read 3-21-10 http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10611 Great Articles To Read 3-21-10 Sun, 21 Mar 2010 11:46:11 +0000 http://www.mydollarplan.com/?p=1132#comment-10611 [...] Unite from Rainy-Day Saver. Are you Sure you Want to be Your Own Boss? at Suburban Dollar. Should You Do a Roth Conversion? Roth Conversion Considerations from My Dollar Plan. Tips for Doing the 31 Days to Build a Better Blog Challenge over at [...]

[...] Unite from Rainy-Day Saver. Are you Sure you Want to be Your Own Boss? at Suburban Dollar. Should You Do a Roth Conversion? Roth Conversion Considerations from My Dollar Plan. Tips for Doing the 31 Days to Build a Better Blog Challenge over at [...]

]]> By: Win a Free Smartphone and Have a Great Life | My Super-Charged Life http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10610 Win a Free Smartphone and Have a Great Life | My Super-Charged Life Sun, 21 Mar 2010 11:03:50 +0000 http://www.mydollarplan.com/?p=1132#comment-10610 [...] Should You Do a Roth Conversion? – I’ve got a couple of traditional IRAs out there that I’ve thought about converting to Roths.  This article has some great info in it. [...]

[...] Should You Do a Roth Conversion? – I’ve got a couple of traditional IRAs out there that I’ve thought about converting to Roths.  This article has some great info in it. [...]

]]> By: Mark http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10607 Mark Sat, 20 Mar 2010 04:30:33 +0000 http://www.mydollarplan.com/?p=1132#comment-10607 Excellent post :) Excellent post :)

]]> By: Budgeting in the Fun Stuff http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10602 Budgeting in the Fun Stuff Wed, 17 Mar 2010 21:26:12 +0000 http://www.mydollarplan.com/?p=1132#comment-10602 I have read several articles about the Roth conversions now and it seems to boil down to: convert if you are more than 20 years from retirement or 70 1/2 and need access. I'm so happy this is one financial thing I don't have to worry about (we're in our 20s and started with Roths). Now I can move on to worrying about my 401k, stocks, emergency fund, retirement.... I have read several articles about the Roth conversions now and it seems to boil down to: convert if you are more than 20 years from retirement or 70 1/2 and need access.

I’m so happy this is one financial thing I don’t have to worry about (we’re in our 20s and started with Roths). Now I can move on to worrying about my 401k, stocks, emergency fund, retirement….

]]> By: The Biz of Life http://www.mydollarplan.com/should-you-do-a-roth-conversion/#comment-10600 The Biz of Life Wed, 17 Mar 2010 19:18:34 +0000 http://www.mydollarplan.com/?p=1132#comment-10600 One of the better articles on Roth conversions that I've seen on the web. One of the better articles on Roth conversions that I’ve seen on the web.

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