The Money Book for the Young, Fabulous & Broke by Orman Suze

Author:Orman, Suze [Orman, Suze]
Language: eng
Format: azw3, epub, pdf
Tags: Itzy, Kickass.to
ISBN: 9781101218563
Publisher: Riverhead
Published: 2005-03-20T04:00:00+00:00

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YF&B

More details on the rules and regulations for conversions (and a tricky move called a recharacterization) are provided on my website.

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PROBLEM:

I took money out of my 401(k) when I left my job, to do an IRA rollover, but I ended up being hit with income tax plus a 10 percent penalty on the money.

SOLUTION:

To avoid that mess in the future, always choose a direct rollover where the money is transferred without you touching a penny of it.

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