Category: Conversion
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I’m over 59 ½ and Did a Roth Conversion Over 5 Years Ago. Should I Worry About Taxes and Penalties?
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I have had a Roth IRA and a traditional IRA for over five years and want to start converting my traditional IRA to a Roth IRA. My belief is that I can start withdrawing the converted funds without any penalty, since the Roth has been open for over five years…
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Ask an Advisor: At 65, I Did a Roth Conversion to Skip RMDs
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Imagine you’re 65 and you just completed a Roth conversion during a low-tax year early in retirement to avoid the future Required minimum distributions (RMDs). However, soon after the transfer, you want to withdraw the money you just paid taxes on. But continuing to withdraw without understanding the five-year rule…
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KMT-Hansa Announces Debt Conversion | Financial Post
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Article content TORONTO, Dec. 04, 2024 (GLOBE NEWSWIRE) — KMT-Hansa Corp.institution“) would like to announce that it has agreed to settle (collectively,”)Debt settlement“) with a total debt of $940,024.92 to four (4) independent creditors. Debt settlement consists of: Article content The bonds bear interest at the rate of 7% per…
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We’re 70 With $1.4M in an IRA and $99k in Retirement Income. Is a Roth Conversion Still an Option?
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Stephen Jarvis, CPA My wife and I are 70 years old. We paid for everything, including the house. Between my $29,000 pension and Social Security, we get a gross income of $99,000 a year, which is more than enough. Our current savings in our brokerage account is $700,000. Our individual…
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We’re 70 With $1.4M in an IRA and $99k in Retirement Income. Is a Roth Conversion Still an Option?
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Stephen Jarvis, CPA My wife and I are 70 years old. We paid for everything, including the house. Between my $29,000 pension and Social Security, we get a gross income of $99,000 a year, which is more than enough. Our current savings in our brokerage account is $700,000. Our individual…