Ask Jennifer: Roth IRA

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April 8, 2013, 12:33 pm
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(NECN) - With the deadline looming to get your taxes done, many people have questions concerning Roth IRAs and Roth 401-K.
     
Certified Financial Planner Jennifer Lane from Compass Planning joins NECN with answers to these questions.
 
Marcia in Auburn asks:
"Is it too late to convert my JRA to Roth for the 2012 tax year?"

Susan in Weymouth writes:
"I plan to use my Roth IRA to purchase a currently leased car. I'm past 59 and a half, and my Roth account was set up two and a half years ago with converted funds from my traditional IRA. My account is worth far less than the amount that was converted. Will I owe any more taxes?"

Brian in Worcester wants to know:
"My company offers a Roth 401-K. I thought I earned too much to be eligible for Roth but, assuming I can participate, how do I decide whether to do regular 401-K or Roth 401-K?"

For answers to these questions and more, watch the attached video.

And don't forget, you can always contact Jennifer with your own financial questions. Just email her at AskJennifer@necn.com. She'll have your answers every other Monday right here on NECN.

Tags: Jennifer Lane, taxes, Roth IRA, Roth 401-K
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