Suze explains how in 2010 you can roll over any IRAs into a ROTH IRA for tax savings in the future….(read more)
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Suze Orman is a personal finance guru who has been providing advice to people for years. She has recently been advocating for Roth IRA rollovers. A Roth IRA rollover is when you transfer money from a traditional IRA or 401(k) into a Roth IRA. This can have significant tax advantages in the long run.
In 2010, the rules for Roth IRA rollovers changed. Prior to 2010, there were income limits on who could convert their traditional IRA or 401(k) into a Roth IRA. However, in 2010, these income limits were lifted. This made it possible for more people to take advantage of the benefits of a Roth IRA.
Suze Orman has been a strong advocate for Roth IRA rollovers since the rule change in 2010. She believes that converting to a Roth IRA can be an excellent way to save for retirement. When you convert to a Roth IRA, you pay taxes on the money that you transfer, but you won’t owe taxes on the money when you withdraw it in retirement. This means that if you expect to be in a higher tax bracket in retirement, a Roth IRA can be an excellent tax-saving tool.
Suze Orman also believes that Roth IRAs are a good option for people who are just starting to save for retirement. This is because Roth IRAs are funded with after-tax dollars, so you won’t owe taxes on the money when you withdraw it in retirement. This means that if you start investing in a Roth IRA when you are young, you can potentially save a lot of money on taxes in the long run.
However, Suze Orman does caution that Roth IRA rollovers are not right for everyone. If you are close to retirement, a Roth IRA rollover may not be the best option for you. This is because you may not have enough time to recoup the taxes that you pay when you convert to a Roth IRA. Additionally, if you don’t have enough savings to pay the taxes on the conversion, it may not be the best option for you.
In conclusion, a Roth IRA rollover can be an excellent way to save for retirement and potentially save on taxes in the long run. However, before you make the decision to convert to a Roth IRA, it’s important to consult with a financial advisor and determine if it’s the best option for your individual situation.
study up on the power of compound interest and dollar cost averaging.
Look into a Self Directed ROTH IRA – the term IRA is just a tax code and its ALWAYS what you fuel your investment with. Glen Duncan is correct when he says he gets 15% return on tax liens. My investors get 8 to 15% on 1st deed of trust backed by real estate. Knowledge is power.
ROTH is ALWAYS better since your gains will be tax free when you withdrawl. Look into a self directed ROTH IRA. If you set it up correctly you can get check book control and invest in things like real estate. Many house flippers (me included) may almost double digit returns.
Interest are not earnest, according to some people…heck even the Bible suggests it is an sinful art to be an actuary.
But I think it is unfair for savers if interest are not there…because it is a sacrifice to save.
But then again, if you save, and population increase, wouldn't that hog the system, cut the flow of exchange? of course not, you could just print more money, and ended up hurting the savers, who have to compete with more new money, and his monies are value less & less each days.
IRA is also commie's tools…to destroy America, and it gotten 60% of you, mostly happy white people who doesn't wanted to share to, you know…
You can't take it with you to the grave, or so they said, may as well give 'em all your monies or perish in sinful hell, because they said it is not earnest monies.
The logic is so flawed, it hurts me >.<
Contributions made to an IRA with pre-tax dollars that come out taxable are the same as contributions made with after tax dollars that come out tax-free, assuming you're in the same tax bracket in both examples. Can you predict what tax bracket you'll be in? If you can, then you can pick the correct IRA – saying that Roth is always better than traditional IRA is illogical, and inaccurate.
@PLISKEN12 That is the plan, they do not want you to retire,
never had a roth IRA rip off
I buy tax lien certifiates in a 401K I get an average of 15% per year
or I get the property