Is your money safe in a bank? This is the next installment of the readers' question series on the blog. Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. If you're not familiar with Dave Ramsey's book, you … [Read more...] about How Safe Is Your Money In The Bank? Should You Be Worried?
A reader recently wrote in with the following question about converting a 401k retirement plan to a Roth IRA and the tax consequences. Should you pay for the taxes when converting a 401k retirement plan to a Roth IRA from the proceeds of your plan? The short simple answer is no! You should not pay for your taxes from money that was in your retirement plans during a Roth conversion. Taxes On Your Roth Conversion You will have to pay taxes when you convert a 401k retirement plan to a Roth IRA. If you use money that was once in your 401k … [Read more...] about Should You Pay Taxes For Your Roth Conversion From Investments?