What are the real financial strategies retirees need to know to make their retirement successful?
Join Stephen H. Nelson, Chartered Financial Analyst (CFA®) charterholder, CERTIFIED FINANCIAL PLANNER™ (CFP®) professional, and President of Birchwood Capital, as he helps you retire confidently.
Today, I’ll be sharing with you the Roth IRA 5-Year Rules. Yes, there’s 2 of them. One for contributions and one for conversions.
As you approach retirement you need to make sure you are not running afoul of these rules or else your earnings could be taxable along with a 10% penalty. That completely washes out the benefits of doing a Roth IRA in the first place!
Making this episode made me realize how confusing this part of Roth’s can be. Now at least you’ll know to watch out!
Read more: https://birchwoodcapital.com
Sources: Two 5-Year Rules for Roth IRAs