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Im 41 and plan to retire at 65 in theory. I have both a rollover IRA and a roth IRA. obviously i would like as much tax free growth on my investments as possible

I just discovered i can convert my rollover IRA to my roth, however, i would have to pay taxes on it. I make $120K a year so that puts me in the 28% bracket. I have been stockpiling cash so i have the $ for the taxes but I have been also saving that money for a big stock market correction so i can invest at the dips (in my taxable individual investment account). So i am not sure if it makes sense to convert my rollover IRA to my roth right now or just keep saving the cash. Obviously i will have to pay taxes on investments in my individual account as well whenever i sell but i plan to hold those long term anyway - i could use some advice. thanks so much
Date: Tue-Mar-8-2016-
Response
0
Leave it where it is 
Leave your 401 or 403 right where it is. Why pay unnecessary taxes? You made the good decision to make investments to hold, so a rollover into a Roth is not good with that investment. You can invest other taxed income into the Roth and still take a deduction for the investment. I hope you do your homework well if you are waiting for something to dip very low to invest in. You might want to look into up and coming companies that are small or have just opened onto the stock market and make small stock investments as the chance of loss is the same, but don't make a large investment in one basket. 
Good luck. 
[d] By: fretfulness
Date: Tue-Mar-8-2016
Response
0
Don't do it.
In order for it to make sense, you would have to assume you would be in a higher tax bracket when you retire than you are now. Also, you would have to do it incrementally to save on taxes. If you convert it all at once, the amount of your portfolio would be added to your current annual salary, which could push you into a higher tax bracket (depending on the size of your portfolio). 

If you are considering a Roth IRA, open a separate Roth IRA (assuming you qualify with your current income) and max out your contributions each year. That way, at least part of your retirement portfolio will be tax-free. 

My only concern would be your current tax bracket. With a Roth IRA, you will be paying taxes on the income at your current level (28%) - do you think you will be making more or less when you decide to retire? If you feel you will be at the same tax bracket or higher, I would recommend opening a Roth IRA for future contributions, but NOT converting the existing portfolio. If you feel you will be in a lower tax bracket, definitely stick with a traditional IRA. 
[d] By: essay
Date: Tue-Mar-8-2016
Response
What is 1 + 100



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for restaurants, kiosk, and any other retails business completely free. It can be used as windows cashier system or as full blown POS. You will able to print to kitchen, display orders on the kitchen screen, manage inventory, employee, report, customer loyalty offers, employee management, delivery address track and much more, all for free.

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