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Pastimes : Ask Mohan about the Market

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To: eddie r gammon who wrote (13386)	1/24/1998 5:22:00 PM
From: Monty Lenard	Read Replies (1) of 18056

Eddie, there are limitations as to who can roll these over into Roths based on income. The people who can afford to pay the taxes on the roll-over (taxes must come from out of pocket not from money being rolled over)will probably be unable to take advantage (I question the advantage except in a very few cases)of this so called tax break because of the income limitations. I for one would not roll over: 1. There are too many assumptions that must be made. 2. The gov't did not tax SS until a few years ago but now they do. I do not trust them to keep their word. 3. There are more but too much for a post here. I will say that the one situation I can think of that would cause me to roll over is if I knew I had a short time to live and had a large estate tax problem. In that situation, by rolling over into a roth, I would be able to keep that money out of the estate(up to some $800,000). Again, because of income limitations, it may be that a person in this situation could not make a roll over! Bottom Line----I don't think there will be as much of this as many people think. BWDIK TC

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