"Hello! I drive a 2004 Subaru, drink sour beers and have a mutt. Lucky to live in Colorado. Love the show. I have an existing Roth - opened in 2020 - I will be 59.5 in 2026 so 5 year rule and 59.5 rule will be satisfied whenever I get around to using the funds after that time. No need for them for the foreseeable future. I have heard you mention that each conversion has its own 5 year clock even if I am over 59.5. Does that mean that if I want to convert stock in this down market now that I need to open a new Roth and if I want to do more next year, I need a third Roth, and so on? Or can, I just convert all of it into the existing Roth? If the answer is the former (separate Roths), can I consolidate them as they each hit the five year mark? Thank you, Jason." Download the 5 Year Rules for Roth Withdrawals: Listen to the entire Your Money, Your Wealth® podcast: Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retir...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)