Hello everyone,
Welcome again. Are you a job holder and thinking about retirement? Today’s video is just for you. There are many rules of retirement. Some are easy to understand and some are tough. In today’s video I am going to discuss the 5 year rule. I also explain one of the most misunderstanding regarding retirement accounts.
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🎬Watch my other videos:
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★Why Corporations Send Factories Overseas || The Real Reason Behind Sending Our Jobs Overseas
★Roth Conversions Are DEAD!! Or are they??
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I’m over 59 1/2 and I did my first Roth conversion in 2020 and another one in 2021 (in two separate accounts). My accountant said that there was only one 5 year starting point for both – in 2020, not one from 2020-2025 and another one for 2021-2026. Which is right?
Also, how are dividends and capital gains tracked? If you’re reinvesting them in the stock/fund how is that separated from contributions?
What happens with a Roth 401 come retirement? I’m 65 with FRA looming and have ~70,000 in the Roth 401 but no Roth IRA.
I don’t think this is correct. When you are under 59.5 and you make a Roth conversion, you can’t touch the money AT ALL for five years . After 5 years you can access the converted amount but not the earnings.