Hi Joseph,
After studying the benefits of the Roth IRA, and running through various numbers and scenarios re. my future financial situation, Roth always wins. I plan to convert most, if not all my IRA's to a Roth IRA this year ... and bear the tax burden over the next four years.
Of course, everyone's situation differs. I found a number of Roth IRA Conversion Calculators on the web that helped me reach my decision. I bookmarked those that I considered 'good', but alas, they're on another system. But, if you haven't yet used any, they can be found via a web search -- I think I used combinations of the words Roth, IRA, conversion, calculator. Some are good; some not so good. If I recall, there's a good calculator at the site rothira.com. Also, this site reviews calculators found elsewhere on the web.
An earlier poster suggested he'd rather not bear the conversion tax burden now (that sounds like a mouthful), and invest that money in hopes of a hitting a ten or twenty bagger. My strategy is to convert now -- some into riskier investments, pay the tax with non IRA moneys, work hard at landing a ten or twenty bagger within my Roth, which will then be tax-free at time of distribution. We must all do what's most comfortable for us...
I like the Roth a lot. My sense is the government doesn't yet realize just how good it is and when they come to their senses, they'll take it away from us. I plan to take full advantage of the Roth while it's still here.
I don't follow this thread very much, so the above may be old news to you folks.
Good luck.
Beverley |
