403b ira
Hi Terry ~
Have a Vanguard 403B account – retired in 2021 -would like to covert to a ROTH IRA. I am 63 and would like to know should I split the rollovers over two years – also I can not touch money in the new roth IRA for 5 years without penalty?
Terry Says
Do you have money OUTSIDE the account to pay the taxes? If not, don’t do the conversion to a Roth.
There are lots of reasons — one is that you will pay a higher Medicare Part B premium if you add half your account to your income in the years just before signing up!
If you would like comprehensive advice you can trust about your overall financial situation — read this on my website.
