Quote:
Originally Posted by Stu from NYC
Even worse are so called financial advisors who really have no idea what they are doing other than lets sell annuities so we can make some money
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As an admonition to others to examine your conversion documentation carefully, I had an inept stock bookie foul up the paperwork on my IRA to Roth conversion back in 2002 which was the only year possible and thankfully a sensible year for me to do the conversion. The docs did not look right to me so I took them to a very smart advisor at another branch office of the same outfit who redid them during the last couple of days of December. If the conversion had failed I had no second chance as my income was always too high to qualify. Additionally, IMHO it makes no sense to do a conversion in a high tax bracket year or a high market year. 2002 was the perfect year for the conversion both income-wise and stock market-wise for me. I was able to strike when the iron was hot and got in under the wire. Whew!!!