Episode #99 Roth IRA Follow Up And Inheriting Something I Don’t Want

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Today’s Smart Money Question:

We received quite a few responses from listeners after the last episode, so we’ll be following up on last weeks’s topic by discussing Roth IRA conversions. We’ll also talk about what to do if you inherit a piece of property that you don’t want, and we’ll learn about Stretch IRAs.
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(Click the featured times below to jump forward in the episode)

Here Are Just A Handful Of Things You’ll Learn:

2:23- ROTH Conversions

  • Judy listened to Matt’s previous podcast episode and wants to know if it’s more tax efficient to do a ROTH Conversion with her Traditional IRA account or from a taxable account, if that’s possible? Matt also goes over the difference between a ROTH Contribution and a ROTH Conversion.

5:56- Does the 59 ½ rule apply to ROTH Conversions?

  • Matt answers another one of Judy’s questions. She wants to know if she does a ROTH Conversion with a Traditional IRA before she is 59 ½ will she be hit with the 10% penalty.

8:53-  IRS Rule of 55

  • Matt goes over what the IRS Rule of 55 entails.

11:34- Inheritance Of A Rental Property

  • Matt gives his advice on what you should do if you inherited a property you don’t want.

14:43- Are Stretch IRA’s Going Away?

  • Arnold heard something a few weeks ago that congress might end stretch IRA’s; he asks Matt if that is true.

 

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