Kim talks with Sean Monohan, EA, CFP, of Chartered Financial Strategies about Roth IRAs
Length: approximately 20 minutes
00:52 Differences between traditional IRA and Roth
03:41 Roth Rollover Limits
05:19 Benefits of Roth over Traditional IRA - Tax Hedging Strategies
07:09 Why the penalty is less in a Roth if you take it out before age 59 1/2
09:21 Why you need to keep good records in a Roth, even after age 59 1/2
10:38 How a Roth fits into tax strategy
11:52 "Gotchas" in converting a Traditional IRA to a Roth IRA
13:35 The mechanics of converting a traditional to a Roth - how to do it
14:55 When are taxes due on the conversion?
16:01 How does the IRS know I have converted?
16:51 Discussion of new tax law change in 2010 affecting Roth conversions
20:37 Contact information for Sean Monohan
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