Can you reinvest your required minimum distribution (RMD) into your Roth IRA?
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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results….(read more)
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My understanding is that even a Roth 401k have RMD's. Why is that the case? I thought that the only reason the government makes you take the RMD , is for them to get their tax money.
What about back door Roth IRA. I thought we could contribute part of the money we don’t need regardless of the amount and transfers it to a Roth IRA ? You saying no to this? Please explain. Also one could give gifts to love ones to lower the taxes? No?
Excellent presentation of ideas! Thanks!
What do you mean by converting above that?
I guess you could also convert an amount above your RMD, right?