The short story here is that you can convert your IRA to Roth IRA*. What escapes conversations about converting to Roth IRA is that you don’t have to convert your entire IRA. You can have strategies to convert portions. We can use, for a fee, tax planning software to convert just enough to keep you from crossing into the next tax bracket.
When doing a conversion you can even convert specific assets within your IRA. That is if you have a particular stock you want to keep, you can move that stock at today’s value to a Roth IRA. You will pay tax on today’s market value. You won’t pay any penalties so long as you pay the taxes from a non-IRA account.
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Great Resources for you:
You may want to get one of our booklets ===>> the Form is usually on the right side of this page. If not, go to iXrayRetirement.com
*There are many scenarios to consider when evaluating converting to a Roth IRA. This is just the tip of the iceberg. Please contact us or another highly trained Ed Slott Elite advisor
My background information can be found here – iXrayRetirement.com/Richard-Loek
Note: Social Security Planning is the likely the most important topic you need to read about – iXraySocialSecurity.com