I converted my traditional IRA to a Roth in two st
Post# of 151637
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Posted On: 07/14/2021 7:56:17 AM
I converted my traditional IRA to a Roth in two steps; 2020 and 2021. The tax bite was fairly steep for 2020, so you have to make sure you have cash available to pay those taxes up front. I transferred a much smaller amount this year, so the tax bite will be much smaller.
I have CYDY and GNBT in the Roth along with AAPL, AMZN, and a few other well-know stocks. My hope is that both of these will move to the upside and I can use them as a piggy bank.
As was suggested, check with your accountant. IMO, the sooner you start your Roth, the better it will be, as long as you make good investment decisions. Compounding is a great ally for retirement funds.
I have CYDY and GNBT in the Roth along with AAPL, AMZN, and a few other well-know stocks. My hope is that both of these will move to the upside and I can use them as a piggy bank.
As was suggested, check with your accountant. IMO, the sooner you start your Roth, the better it will be, as long as you make good investment decisions. Compounding is a great ally for retirement funds.
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