What advice would you give jennifer

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Question - Jennifer is age 50 and is seeking your advice. She has a traditional IRA with a balance of $100,000 and is considering whether to convert it (roll it over) to a Roth IRA. She has sufficient money in CDs to pay any required tax resulting from the rollover. Her current AGI is $70,000.

She expects her income will be slightly higher upon retirement at age 65. What advice would you give Jennifer?

Would your response be different if she does not have the CD to pay the required tax and has to take an early withdrawal [with penalty] of a portion of her IRA to pay the rollover taxes?

Reference no: EM133169286

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