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HerMoney with Jean Chatzky

Bonus Mailbag #7

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.81.3K Ratings

🗓️ 7 March 2018

⏱️ 10 minutes

🧾️ Download transcript

Summary

In today’s Bonus Mailbag, we cover Roth IRA conversions, high-yield online savings accounts and loans for flight school. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to an airwave media podcast.

0:04.0

Her money is brought to you by Fidelity Investments.

0:14.0

We're committed to sparking important conversations about money and inspiring you to always be in the financial

0:19.2

front seat. Learn more at Fidelity.com

0:37.0

Her money comes to you through PRX. Hey it's Jean Chapsky. We are right in the middle of a week of her money mailbags. Our mail bag was overflowing. It bothers Kelly like you would not believe.

0:47.0

drives me nuts. We want to make sure that we are answering as many of your questions as possible and so we just decided this week

0:54.4

we were going to roll out a special episode every single day of your questions and

0:59.7

here we go. Starting with Grace, did the new tax reform remove the backdoor IRA?

1:05.4

I saw online that Roth conversions will no longer be reversed to a traditional IRA, but I am

1:10.1

not sure if you can still make a traditional IRA and convert it into a Roth.

1:14.4

You can still convert a traditional IRA into a Roth.

1:19.5

What you can't do is undo that conversion in the same year in which you convert it.

1:27.2

I just said convert it enough times that people are going to think we're talking

1:30.6

about religion.

1:32.3

It's a strategy that financial planners sometimes use,

1:36.4

account and sometimes use based on the movements of the market

1:40.2

to get you the best deal on your taxes.

1:43.0

But the answer is, plain and simple, yes, you can still convert,

1:46.0

you just might not be able to reverse it.

1:48.0

Thank you, Grace.

1:49.0

Now one from Evan.

1:51.0

Hi, Jean and crew, I'm a fairly new and now obsessed listener.

...

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