Friday, January 22, 2010

NY Times Blog: Ed Slott on Roth IRAs (Part 3)

Ed Slott continued his series of answering consumer questions about Roth IRA conversions in the "Bucks" section of The New York Times.

The "Ask an Expert" section brought in America's IRA Expert to answer consumer questions. The first of three questions dealt with income restrictions when dealing with Roth IRA contributions.

As Slott pointed out, "The income restrictions on Roth contributions were not lifted. They still exist. There are two ways to get money into a Roth IRA. One is to make regular contributions and the other is to convert existing IRAs or company plans to a Roth IRA."

CLICK HERE to read the entire Q&A session with Ed Slott.