Msg. 04418 of 60014 (This msg. is a reply to
04413 by
micro)
Jump:
Micro > Take all your money out of the traditional IRA as soon as you can and invest it into a brand new ROTH IRA where you have no RMD's or perhaps into some type of other steady growth vehicle that makes continual income for you...
I believe, Boss,
That if one takes it all out and puts it into a Roth one has
to pay the income tax on ALL of it that year - if it is a
substantial nest egg that could mean losing a LOT of the money
to the tax man.
My suggestion would be to remove it slowly, over time, and re-invest
any 'not needed right now' funds into something tax paid that will
likely grow and increase in both value and dividends paid.
1. good read.
2. simple way to get around the MRD.
Take all your money out of the traditional IRA as soon as you can and invest it into a brand new ROTH IRA where you have no RMD's or perhaps into some type of other steady growth vehicle that makes continual income for you...
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