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Old 08-16-2017, 02:37 AM
 
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the real question is with such a low income ,why bother with the roth ?

roths are great because of all the things tied in to retirement income. but if 22k is your income you have to see if the conversion and taxes up front are worth it .


if you are in the 15% bracket regardless it may just waste dollars up front
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Old 08-16-2017, 04:35 AM
 
Location: Central Massachusetts
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I agree with you. However everyone is different. Hannah5555 does need to do the math to see if it is worth it. 60k is not going to be a great deal of money in the grand scheme of things. At 22k per year that is only 3 years of income if that IRA is used exclusively and even if it is combined with SS the tax on annual income coming from that source will be negligible. It might not even get taxed at such a low income. She will have to file but will get a tax refund at the end of the year.
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