When evaluating this question from a financial planning perspective, it can be tricky to answer, as you will end up with a significant decrease in available funds when approaching retirement age within your Social Security and possibly within your general savings; due to spending more than you save
A direct answer would be this: your conversion of your IRA from brokerage to Roth IRA will be taxed just the same as your standard income. This will be determined by the marginal tax bracket you fall under. When you're continuing to work and have income you've earned from said work, it will be a
Unfortunately, no. You are able to contribute a total amount of $6,500 between both your Roth IRA and your traditional IRA within the same tax year as long as the participating party, you, are 50 years of age or older ($5,500 for individuals below 50 years of age). With that being said, there are
This a great question that is commonly asked amongst the finance, investment, and retirement community. Back-Door Roth IRA can be a great way to work around the limitations imposed on the Roth IRA contributions in various situations. However, there are some facets that should be mentioned and
Nest Egg Guru wants to thank our friends at XY Planning Network for their amazing hospitality at the XYPN16 Conference in San Diego last month. The energy and enthusiasm of XYPN’s membership base is palpable. We were completely impressed! For the throngs of XYPN members who stopped by the Nest
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