Home  >  Financial Articles and Q&A  >  Pulling $$ out of a 401k and transferring it to a Roth...

Pulling $$ out of a 401k and transferring it to a Roth IRA?

I am 65 and I understand I need to pull money out of my 401k once I reach the age of 70, I would like to know how much I should pull and transfer every year to a Roth. I am still working and have a cash account of $100k so I don't plan to touch my 401k or Roth for quite some time

Jul 15, 2018 by Luther in  |  Flag
1 Answer  |  1 Follower
Follow Question
0 votes

Roth conversions are taxable as ordinary income the year the conversion is made. I would suggest only converting an amount that will not push you into a higher tax bracket. If your tax bracket will be lower once you retire, that might be the time to start converting to a Roth. Is this a 401(K) with a current employer? Does the plan allow for in-service distributions?
This is not intended to be tax advice as I not a tax professional.

1 Comment   |  Flag   |  Jul 27, 2018

Testimony on how i received my loan at 2% ( Frank Loans Services )

I would without reservation recommend working with Frank Loan Services, If you are in the market for a home mortgage. I have spoke to many brokers while shopping for my mortgage loan online, From the first contact, I could tell he's the type of person I could trust to help me make the best decision for me and my family, They offer both short and long terms loan off within 1-50 years loan duration, with or without collateral but no credit check and their services are fast, Reliable and trustworthy because they have been tested and trusted by me unlike other companies.

Are you finding it hard to obtain capital service from local banks and other financial institutes? do you need funds to start up your personal business? Do you have a low credit score and you are finding it hard to get a loan because of your credit score worry no more because Frank Loans Services is here to help you pay off your bills and start a good business, they offer loans at a very affordable interest rate of 2% interested persons should kindly contact him via E-mail: k.frankloans@gmail.com Mobile: +1-713-389-6778.

Their services include Refinancing Loans, Truck Loans, Education Loans, Student loans, Personal Loans, Car Loans, Debt consolidation loans, Business Loans, secured and unsecured loan, Mortgage Loan, Home Loans, kindly contact them today for further inquiries via E-mail: k.frankloans@gmail.com Mobile: +1-713-389-6778.

Your Financial Satisfaction is there Aim and your working with them will be of a good experience, kindly contact them today for further inquiries if you are interested in loans via his E-mail: k.frankloans@gmail.com Mobile: +1-713-389-6778.

Flag |  Dec 16, 2019

1|600 characters needed characters left