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SVTPerformance's Chain of Restaurants
Road Side Pub
Any Dave Ramsey fans in here or financial gurus? Need advice..
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<blockquote data-quote="Coiled03" data-source="post: 16136762" data-attributes="member: 18779"><p>Since this thread has morphed into more of a general finance thread, I'll ask a question:</p><p></p><p>Anyone ever converted a traditional IRA to a Roth IRA? The reason I ask is I have one of each, with the traditional carrying the larger balance. However, my Roth is the only account I have that's post tax. I'd like to convert my traditional to a Roth in a one-time transaction, to have at least one account that's relatively safe from increasing tax rates.</p><p></p><p>I get that I'll have to pay taxes on the conversion. But given that these are the lowest rates we'll likely see, now seems like an ideal time to do it, if I'm going to. Are there any other pitfalls I'm not thinking of?</p></blockquote><p></p>
[QUOTE="Coiled03, post: 16136762, member: 18779"] Since this thread has morphed into more of a general finance thread, I'll ask a question: Anyone ever converted a traditional IRA to a Roth IRA? The reason I ask is I have one of each, with the traditional carrying the larger balance. However, my Roth is the only account I have that's post tax. I'd like to convert my traditional to a Roth in a one-time transaction, to have at least one account that's relatively safe from increasing tax rates. I get that I'll have to pay taxes on the conversion. But given that these are the lowest rates we'll likely see, now seems like an ideal time to do it, if I'm going to. Are there any other pitfalls I'm not thinking of? [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Any Dave Ramsey fans in here or financial gurus? Need advice..
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