In this 2-minute video, we review the basics of a ROTH 457b Deferred Compensation conversion.
Questions answered:
Who can do it?
Why you would do it?
When to do it?
How to do it?
Bullet Points:
1. It’s a TAXABLE transfer. Ie. It adds to your income $1 for $1.
2. TAXES are not withheld. Ie. Taxes are due when you file.
3. It makes sense to convert a chunk of $’s (ie. $10,000) when the market sells of greater than your tax rate (ie. you pay 20% income tax and market sells off greater than 20%).
4. You need to request the T. Rowe Price ‘In-plan ROTH Conversion’ form from our office and then return it back to our office.
Interested? Please call (614) 747-5412 and/or email: drew@bcgadvisor.com to get started….(read more)
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