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Last Post: 2:42:15pm, 01/27/2022
No_U_L7 posted...
Youre allowed to do that?
Yes, assuming you get at least 6k in earned income by the end of the year. And you don't end up exceeding whatever income makes you illegible for Roth IRAs
Cokewave posted...
I've been trying to convince my parents to take $6k/yr from their 457 for years but they never want to listen
How are you explaining it to them? Mention you can take whatever you personally contributed out with no penalty (besides it being stupid), so it's not like your money's getting locked away
And if you ever want to make a BIG purchase during retirement (like a house on auction), claiming their Roth gains won't expose them to the 32%+ income tax bracket
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