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Practical perspectives: Key financial issues for you and your family – Savvy planner readies for 2010 IRA rule changes


SKU: TREye094. Category: .


Abstract: Gerald is a 63-year-old physician who rolled over his traditional 401(k) into a traditional IRA when he left his hospital position to start his own practice. The tax-deferred contributions seemed like a good idea at the time, but he has no intention of retiring within the next decade. Thus, he’s bothered by the account’s required minimum distributions (RMDs), which he’ll have to start taking after he turns age 70½. Converting to a Roth IRA would solve that problem, but his high income disqualifies him from doing so. But, as his advisor explains, that will change in 2010.

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