Roth Conversion and 401k Limits and Deadlines - Get Expert Answers to Your Most Important 401k Questions

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Ask private wealth management advisor Thomas Quinlin about Roth Conversion when you talk with him about options to supercharge your 401k.

Contact Thomas at http://LifeStyleDesignGroupIntl.com --

And get more information about Roth Conversion at: http://RothConversion2010.net

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  • Roth Conversion and 401k Limits and Deadlines - Get Expert Answers to Your Most Important 401k Questions

    1. 1. Roth Conversion & 401k Limits & Deadlines - Get Expert Answers to Your Most Important 401k Questions<br />By Thomas Quinlin<br />
    2. 2. Retirement funds & 401k plans can be a little confusing even in the best of times<br />…the question about Roth Conversion only adds to the complexity  <br />
    3. 3. What are the current 401k limits? <br />
    4. 4.  The 2010 limit for contributions to a 401k for employees who are 49 years of age or younger is $16,500<br />
    5. 5. Employees who are 50 or older are allowed what is called a "catch up" contribution<br />
    6. 6. The amount for this is currently an additional $5,500, for a total of $22,000<br />Since these limits will likely change for 2011, be sure to check for the latest numbers at that time<br />
    7. 7.  <br />What about 401k deadlines? <br />
    8. 8. You may know that you have until April 15 of the following year when you put money into an IRA <br />That's not the case with 401k accounts! <br />For those, you will have to make any contributions by the end of the same calendar year<br />
    9. 9. So if you want to make contributions for 2010… <br /> …be sure to make it by December 31st of 2010, i.e., the year for which you want them to count<br />Don't miss your 401k deadlines or else you'll lose out on the deductions<br />
    10. 10. What about Roth Conversion & Roth 401k Accounts?<br />
    11. 11. Roth 401k accounts are different from the traditional 401k accounts<br />…Here, the money is contributed from your after tax income <br />
    12. 12. There's a plus side, however: once you retire, you can withdraw that money tax-free <br />…Or you can keep it where it is & let it earn some more money for your later years - or your heirs<br />The limits & deadlines are the same as for the traditional 401k<br />
    13. 13. To Roth or not to Roth? <br /> <br />
    14. 14. Whether you choose to invest in a traditional 401k or a Roth 401k or both… <br />…the limit for your 401k contributions applies to the total amount you contribute to the traditional 401k & a Roth 401k together<br />
    15. 15. You cannot double your contribution by contributing to both types of 401k… <br />…but you can choose how much you contribute to each kind, up to the maximum limit allowed for both together<br />
    16. 16. Going over your 401k contribution limit can result in stiff taxes & penalties, so avoid this at all costs<br />
    17. 17. Financial advisors that can help you work your way through the details <br />They are there to sweat the small stuff so you won't have to<br />
    18. 18. Get help from a financial advisor who specializes in overcoming 401k contribution limits <br />…by helping you to invest in alternative investments that can yield a much higher return with excellent safety<br />
    19. 19. These kinds of investments are especially powerful inside Roth accounts <br />…which high income earners can finally take advantage of in 2010<br />
    20. 20. Ask private wealth management advisor Thomas Quinlinabout Roth Conversion when you talk with him about options to supercharge your 401k<br />Contact Thomas at http://LifeStyleDesignGroupIntl.com <br />For more information about Roth Conversion at: http://RothConversion2010.net<br />

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