How much money can be withdrawn from a Roth IRA once retired?
I am looking for the amount of money that you can withdraw from both a Traditional IRA and a Roth IRA per year, at or after age 59 1/2.
Or how to figure out how much can be withdrawn (as if it is a certain percent of the toal amount in there.
Advice on a retired person converting from a traditional IRA to a Roth?
I have a traditional IRA (about 40K) that I am thinking of converting to a Roth IRA. I am retired and about 3 years away from mandatory IRA withdrawals. Knowing full well that I will take a tax hit if I do this, is it a good idea to do this and just let the money grow tax free or should I just steel myself to mandatory yearly withdrawals at age 70 1/2, I can afford the tax hit and my taxable income in 2007 was approx 37K. Thx