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But the five-year rule for Roth IRA conversions is different. Each conversion is subject to its own five-year holding period. If you withdraw funds before those five years are up, you could face a ...

Savings on taxes is the biggest reason to add Roth IRAs to your retirement portfolio, and it’s never too late (or too early) to do so. That’s the thinking of CPA Larry Pon, founder of Pon ...

However, not everyone is eligible for this retirement strategy so it’s important to do your research before attempting a mega backdoor Roth. A mega backdoor Roth is a strategy that allows ...

A backdoor Roth IRA isn’t a specific type of individual retirement account. Rather, it’s a description of a strategy to help ...

Consider a Roth IRA if you expect to be in a higher tax ... to a 6% excise tax for each year they remain in your account. It’s possible to avoid that penalty by withdrawing the excess ...

and it’s a “great way to sock away a lot of money into a Roth that will grow tax-free, and your heirs will receive these funds tax-free.” “You pay taxes as you contribute in exchange for ...

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Sid Kankanala is Assistant Professor of Econometrics and Statistics at the University of Chicago Booth School of Business. His research interests are in econometrics, with a primary focus on economic ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Chip Stapleton is a Series 7 and Series 66 license holder, CFA ...

If your after-tax contributions accumulate investment earnings, the IRS has said it’s OK to split up that money, by rolling your after-tax contributions into a Roth IRA and the investment ...