When do I roll my IRA to a Roth?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 21 October 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Nancy, how are you?
0:26.0	I'm good, how are you guys?
0:28.0	Better than I deserve.
0:29.0	What's up?
0:30.0	Okay, so long story short, I'm going to make it quick.
0:33.0	My husband and I are in our early 40s.
0:36.0	We do things a little bit backwards, but we're debt-free now.
0:39.0	We have about a total of 220 or 1k's.
0:44.5	However, about 125 or so is in old 401k's
0:49.7	from old jobs.
0:50.9	What is it or when is it good to roll those into Ross so that we don't end up paying taxes on gross and requirement on distributions when we get to that point.
1:06.0	Well you're asking really good questions.
1:09.0	This is a great question.
1:12.0	Really smart. You're on top of it kiddo. Way to go. So when you said
1:16.3	debt free, you mean your house? No, no, no, no. I wish.
1:21.5	How much?
1:22.2	Household incomes what?
1:24.1	About 1.30.
1:26.1	Okay.
1:27.1	All right, so the original question, when do I roll a IRA or a 401k, an old 401 401k you can't touch a current 401k into a Roth and create the
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