Is Now the Time for a Roth Conversion, or Wait Until Retirement? - 393
Your Money, Your Wealth
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Is Gus the Dador?
The five year clock on conversions, each conversion has its own five year clock if you're under 59 and a half. Gus still needs to distribute all of the money out within ten years as well. He can't do a contribution unless he's got earned income, which i'm presuming he doesn't. If he pulls the money out prior to the end of the five year clock, guss is going to be taxed.
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