Reported about 1 year ago
Financial advisor Brandon Renfro advises a retiree on Roth IRA conversions as part of retirement planning to avoid Required Minimum Distributions (RMDs). Although there may be conflicting information, if you are over 59 ½ and have held a Roth IRA for five years, you can withdraw funds without penalties. Different five-year rules apply to Roth IRAs and Roth conversions, ensuring compliance to avoid early withdrawal penalties. By understanding the regulations, retirees can confidently strategize their financial plans.
Source: YAHOO