Posted: March 10th, 2011 | Author: Tiffany Tarkington | Filed under: Investment Planning, Paying for Financial Advice, Retirement Planning | Tags: 2011, 401K, 403B, Convert, Employer, Financial Planner, Financial Planning, Investing, Investment Advisor, Investment Policy Statement, IPS, IRA, Omaha, Retirement, Rollover, Sales Charges and Commissions, Traditional IRA Conversion, Transfer, TSP |
This is the first in a four part series designed to help you determine the best way to proceed with your previous employer’s company retirement plans, including 401(k)s, 403(b)s and more. Part 1 | 2 | 3 | 4
What do you think about when you get a new job?
If you’re like most, you’re focused on what the new employer expects from you, learning your position, new processes and dozens of other details that come along with a new position.
This can be a very stressful time for any individual and although it’s the last thing anyone wants to think about, it’s important to remember your company retirement plan(s). These include 401(k)s, 403(b)s, SIMPLE IRAs, Thrift Savings Plans and more. If you’re not consciously thinking about your 401(k) or other employer sponsored plan it can be easy to think “I’ll get around to it later” and eventually forget about it all together. Read the rest of this entry »
Posted: December 8th, 2010 | Author: William Callahan, CFP® | Filed under: Retirement Planning | Tags: 2010, Roth IRA Conversion, Roth IRA Taxation, Taxes on Roth IRA conversion, Traditional IRA Conversion |
You’ve been hearing about it all year. If you haven’t done so yet, I suspect either:
a) You don’t have an account eligible for conversion (i.e. your current 401k that you cannot withdraw from), or;
b) You haven’t had the time to analyze it further.
If you’re in the first camp, this post won’t apply to you. If you’re in the latter camp, it’s likely worth your time to analyze this further. Let’s start with a summary of the opportunity and what this year’s deadline means:
Conversions from a Traditional IRA (and it’s various forms – 401k, 403b, SIMPLE, SEP) to a Roth IRA had previously been limited to those whose Modified Adjusted Gross Income (MAGI) did not exceed $100,000 in a year. Now, converting from a Traditional IRA to a Roth IRA in 2010 and beyond does not have any income (MAGI) cap, so it is available to everyone. So why would we even want a Roth IRA instead? Let’s explore the benefits through a basic comparison: Read the rest of this entry »