If you don't already subscribe to Kiplinger's Personal Finance, here is a heads up for September's issue.
Ed Slott is quoted in an article titled, "Switching to a Roth Makes Sense Now."
The article discusses the story of 46-year-old Oregon resident Mark Crossler, his wife Sandy and son Jacob. The question Mark poses is, "What's a good strategy for dealing with the likelihood that my tax bracket will go up?"
Pick up the September issue of Kiplinger's Personal Finance to get the answer from Ed and others.
CLICK HERE for more information.
Smart money/Coming Soon
Mailbag
Thursday's Slott Report Mailbag
Consumers: Send in Your Questions to mailbag@irahelp.com
Q:
Is a monthly retirement check considered income in order to open a Roth IRA?
A:
An IRA contribution must be based on the taxable compensation of the individual for the year of the contribution. Pension, profit sharing or IRA distributions are not considered compensation for the purpose of a contribution to an IRA. Here is a Q&A article we did on Roth IRA and IRA contributions.
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