About Rollovers:

Rolling Over of a Roth IRA


What is a Roth IRA?
The Roth IRA (so named after its sponsor, Senator William Roth of Delaware), is a retirement account that permits either tax deferral or tax exemption of earnings for the account holder. As an Individual Retirement Account (IRA), the funds can be invested in different savings vehicles at the discretion of the custodian (typically a bank or brokerage). In essence, a Roth IRA is a popular way for people to save for retirement while reducing (or eliminating) their tax obligations.

Roth IRA Rollover Rules
All savings accounts must adhere to the rules governing them by the IRS to preserve any tax benefits. With the Roth IRA, it may be best to perform a direct rollover (or transfer) of funds to another account. This is usually the best strategy for any rollover, especially Roth IRA rollovers. To make sure your rollover goes smoothly and without tax obligations, please get professional advice. If you contact us using the form on this page, we will be happy to answer any questions about rolling over your Roth IRA

The Basic Roth IRA Rollover Strategy
As mentioned earlier, the best strategy for roiling over a Roth IRA is to make all the arrangements before the fund expires or reaches its maximum value. This will involve setting up another savings account in which to invest the money withdrawn that meets your financial requirements, whatever they might be. Of course, you should contact us with any questions about rolling over your Roth IRA well in advance of the need.

The Timing of Roth IRA Rollovers
There are two time factors important concerning your Roth IRA rollover. The first is the five year window since your first deposit. The second in the 60 day window that applies to almost all rollovers. So, please be aware of these when considering your options regarding rollover of your Roth IRA.

Setting Up Your New Rollover Account
Before you withdraw the funds in your Roth IRA, you will want to have the new account in place to receive the funds. Although most IRAs have a 60 day window in which to make your arrangements, having any delay could have disastrous consequences. It goes without saying that making all the arrangements for a smooth transition is essential for a safe Roth IRA rollover.

contact_us_0015.jpgGetting Free Roth IRA Rollover Advice
It can be expensive to get a financial strategist to help you plan the rollover of your Roth IRA. If possible, seek out a professional rollover specialist that will offer free consultations. If you have no relationship with this person, then the advice you get is likely to be sound. Of course, we offer these free financial needs consultations and have many specialists in Roth IRA rollovers ready to advise and assist you for free. Start by using the form on this page and we'll be in touch right away.

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