Equity for Life Newsroom
Money magazine recommends IRA to Roth Conversion
Chesapeake, Virginia, January 21, 2009
-- Money magazine recently reported on "21
good things to do in a bad market." Their
sixth piece of advice was to "convert your
old IRA to a Roth."
The magazine went on to say there is a lot to
like about Roth IRA's and highlighted several
important points about an IRA to Roth Conversion:
• When you pull money from a Roth IRA in
retirement, you'll owe no taxes on it.
• That's a great advantage when you consider
the growing risk that taxes will be higher in
the future.
• You can convert a regular IRA into a Roth
IRA if your income is $100,000 or less (and starting
in 2010 the
income restriction disappears).
• However, when moving to a ROTH IRA you
have to pay taxes on the sum being converted.
Equity for Life specializes
in IRA to Roth Conversions. Financial expert and
owner Merle Gilley says, "the Roth IRA is
the greatest gift Congress has ever given to the
American taxpayer. A protected investment like
this lets you enjoy the upside of the market,
and protects against the poor performing drops."
If you have questions about turning your IRA or
other retirement plans into a Roth Conversion,
please contact Merle Gilley at (757) 424-8901
For a no-cost phone consultation, feel free to
call us at (757) 424-8901 or fill out this form.
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