Archive for the ‘Roth IRA News’ category

2010 Will Bring Big Changes to Roth IRA Rules

October 27th, 2009

The New Jersey’s Star-Ledger has publish an article regarding the future changes to Roth IRA rules, here’s a quote from it:

“Starting in 2010, the rules governing the conversion of a traditional IRA into a Roth IRA will allow anyone — regardless of income — to switch their existing retirement savings account.

The change in 2010 “has the potential to be a fairly big deal,” said Rande Spiegelman, vice president of financial planning at the Charles Schwab Center for Financial Research.

Depending on your financial circumstances, converting your traditional IRA to a Roth IRA might be a smart move, but consumers should do their homework first.”

You can read the rest of this story here.

No Tax Benefit For Stock Loss

October 27th, 2009

The news tribune has an interesting article in Q&A format, here’s an excerpt from it:

Q: I am very new to the game of investing. What low-priced stocks do you recommend? I’ve been lucky with a few penny stocks and want to add a little at a time. – D.M., Ontario

A: First off, stop thinking of investing as a game. Sure, it can be exciting and a lot of fun, but it’s also serious business. It’s your hard-earned money, and your retirement, that you’re “playing” with. ”

Click here to continue reading the original article.

Roth IRA to be more accessible, but may not be best for all

September 4th, 2009

While the law allows investors to convert a traditional IRA to a Roth, the income cut-off for that is even lower: $100,000, for single and married couples who file jointly.

Soon, though, these barriers to a Roth IRA will crumble.

Starting in 2010, the income limit on Roth conversions will disappear, providing a backdoor way for anyone who has an IRA to own a Roth.

Brokers and financial planners are eagerly informing their clients of this opportunity to shelter their retirement savings from taxes.

Many are advising their clients to put money in a non-deductible IRA now so they can convert it next year.

But converting isn’t for everyone. Reasons you shouldn’t convert your IRA to a Roth:

Continue reading this news article…