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Looking to take the tax bite out of retirement?
See if converting to a Roth IRA can help you maximize the fruits of your labor.
A Roth IRA can:
- Allow greater growth potential for your retirement assets
- Because of the lack of RMDs, Roth IRA assets can grow (for generations to come) depending on the owner’s needs
- Offer you tax-free income in retirement at your own discretion
- Roth IRAs are not subject to the required minimum distribution (RMD) rules, which apply to Traditional IRA holders at age 70½, thus giving the owner control of distributions
- Allow you to transfer more wealth to future generations
- If you do not foresee the need to deplete your IRA in your lifetime, Roth IRA assets can pass tax-free to future generations through the use of a Stretch IRA. Beneficiaries are subject to distribution rules based on life-expectancy.
INCOME RESTRICTIONS ARE ELIMINATED FOR ROTH CONVERSIONS IN 2010
Tax laws allow for Roth conversions in 2010 regardless of household income level or tax filing status. This means you may now reposition the tax-deferred growth in your Traditional IRA to a tax-free Roth IRA, whereas before, this ability had been restricted to those making $100,000 or less and those filing their taxes single or married-filing-jointly.
To see if a Roth IRA is right for you, talk to a Wayne Hummer Financial Advisor today. Call Wayne Hummer Investments at 866-WH-Direct (866-943-4732) or email us at
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