Suze Orman's Women & Money (And Everyone Smart Enough To Listen) Ask KT & Suze Anything: I Have More Questions About Roths
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Apr 25, 2024 In this podcast, KT and Suze dive into Roth retirement accounts, discussing conversions, maximizing tax benefits, and utilizing QCDs for charitable giving. They emphasize the importance of prioritizing Roth accounts, navigating tax consequences, and valuing personal connections over material possessions in finance.
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Convert After RMD Taking
- You can continue converting traditional IRA funds to Roth IRA after you start taking RMDs, but RMDs must be withdrawn first.
- You cannot count RMDs as part of the conversion or to meet RMD requirements.
Roth SEP IRA Workaround
- If you can't find a Roth SEP IRA at institutions, fund a SEP IRA and then convert it to a Roth IRA.
- You can fund both a Roth IRA and a Roth SEP IRA simultaneously.
Consult Ed Slott on Roth
- If your employer only matches pre-tax 401(k) contributions, consult top expert Ed Slott on why Roth contributions often make more sense.
- Don't rely just on tax accountants' opinions; seek specialized Roth IRA guidance.