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Personal Finance and Investing

question everything

(49,480 posts)

3. Yes does include Roth IRA

Reply to SheilaT (Reply #2)

Sun Jan 20, 2013, 02:29 PM

Jan 2013

As for mandatory requirements, yes for traditional IRA no for Roth.

We have only traditional IRAs. We will be at a lower tax rate once fully retired so it was not worth it for us to convert and to pay all taxes up front. We did not have the funds, anyway. And we will start withdrawing as soon as fully retired. Social Security and savings in IRA will be our source of income.

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Just found out that the maximum amount allowed for IRA contribution is up [View all] question everything Jan 2013 OP

Good. elleng Jan 2013 #1

That's nice. SheilaT Jan 2013 #2

Yes does include Roth IRA question everything Jan 2013 #3

I have only a Roth, SheilaT Jan 2013 #4

How do you know you will be in a lower tax rate in retirement? Common Sense Party Jan 2013 #5

I will not be drawing a salary. question everything Jan 2013 #6

If only two years, you're right, your rate may not rise much anytime soon. Common Sense Party Jan 2013 #7