Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   Investment Talk (https://www.talkofthevillages.com/forums/investment-talk-158/)
-   -   Interesting tidbit from the Fidelity Advisor (https://www.talkofthevillages.com/forums/investment-talk-158/interesting-tidbit-fidelity-advisor-340924/)

PugMom 08-19-2023 11:32 AM
Quote:
Originally Posted by CoachKandSportsguy (Post 2212298)
According to my Fidelity advisor,

The 5 year Roth IRA contribution - withdrawal clock starts when the account is opened,
even if there is no money in the account. . .

So for anyone who hasn't opened a ROTH ira for for conversions, and that is in your plans, open the ROTH IRA today and get the tax free penalty free clock starting now!

If others have differing opinions from their advisors or tax advisors, would love to hear them to be sure i am not relaying bad information. .

not a CFP guy
they've said the same to me :)

PugMom 08-19-2023 11:36 AM
Quote:
Originally Posted by CoachKandSportsguy (Post 2212362)
I don't remember seeing a TOTV poster named michael whitaker??

Now what am i missing?
inside joke, i think there's threads which cover this guy & his 'company'. am pretty sure he's one of those that promote the free dinner. i tried searching here, but cannot locate the threads

Boomer 08-19-2023 12:37 PM
Thanks for the re-boot of this thread. I am going to give it a re-read and also check out the podcast that was mentioned.

Meanwhile………CONVERT! Younger boomers, CONVERT, IF YOU CAN!……

or, at least look into what I am talking about.

Boomer of the Hindsight

ElDiabloJoe 08-19-2023 03:15 PM
I'm following my Fee-Only investment advisor's advice. She is also my CPA for tax filing. Since I was aged 50, she advocated opening a Roth and slowing moving funds each year from my IRA to a Roth, moving only as much each year as to not push me into a higher tax bracket for that year. Whole thing oughta take about a dozen years.

Stu from NYC 08-19-2023 06:30 PM
Quote:
Originally Posted by PugMom (Post 2247533)
inside joke, i think there's threads which cover this guy & his 'company'. am pretty sure he's one of those that promote the free dinner. i tried searching here, but cannot locate the threads
Maybe cousin brucie knows him.:pepper2:


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