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The Gospel of Roth: The Good News About Roth IRA Conversions and How They Can Make You Money | 
 enlarge | Author: John D. Bledsoe
Publisher: LandMarc Press Inc.
Category: Book
List Price: $29.95
Buy New: $15.78
You Save: $14.17 (47%)
New (6) Used (8) from $13.92
Rating:  12 reviews
Media: Hardcover
Edition: Hardcover
Pages: 256
Number Of Items: 1
Shipping Weight (lbs): 0.8
Dimensions (in): 9.3 x 6 x 0.5
ISBN: 0979718481
Dewey Decimal Number: 332
EAN: 9780979718489
Publication Date: January 12, 2010
Availability: Usually ships in 1-2 business days
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Product Description
THE ROTH CONVERSION OPTION if you follow my advice in the next few pages, you may increase your retirement spendable assets by over 40 percent! Everyone should 1 convert all of his or her IRAs to Roth IRAs on January 4, 2010. Many articles have been written about the major law change for Roth IRA conversions beginning in 2010 . I find most of these articles vague at best, and more often than not, incorrect . Some of these articles are far more confusing than helpful . Since the inception of Roth IRAs in 1998, you could only convert your traditional or regular IRA to a Roth IRA if your income was $100,000 or less . But, starting in 2010, you can convert your regular IRAs and 1January 4, 2010, is the first date everyone is allowed to convert to a Roth IRA. If you are reading this after that date you should convert as soon as you can following the instructions in this book. other retirement plans to Roth IRAs regardless of income . Yes, you read that right everyone can now convert to a Roth starting in 2010 . And everyone should . FOLLOW THE YOGI BERRA PRINCIPLE This change in the law has all of the CPAs, financial planners, and engineers scrambling for their calculators and spreadsheet programs debating the virtue of potential Roth conversion for each situation depending on a dizzying array of assumptions about future income tax rates and the maximum number of angels that can dance on the eraser of a number 2 pencil . It is human nature to want to figure out the best answer before taking action; but this intuition is incorrect when it comes to Roth conversions . What you should do is take action, then figure out the best answer . Or to quote the great intellectual Yogi Berra, When you come to a fork in the road . . . take it . Convert first and calculate later . The general repeating theme of almost every article about Roth conversions instructs and cautions people to calculate their Roth conversion suitability before they make the conversion, implying that a good decision can be made in this order (calculate before you convert) . This premise is wrong . Dead wrong . Backwards . Figuring out if you should convert to a Roth IRA before making the conversion is putting the cart before the horse. Convert first and ask questions later using the method outlined next . Do it exactly this way and I will explain all of the reasons later . The time line for the Roth Conversion Option is as follows: STEP ONE: (January 4, 2010, 9:57 am CST or as soon as you read this.) Convert all IRAs and available retirement plans into new Roth IRAs divided by asset class or investment type . Do not combine or mix with older Roth IRA accounts for now . Keep separate Roth IRAs for assets that were in retirement plans . No single Roth IRA account should exceed 20 percent of the total . If one asset class or investment type exceeds 20 percent of the total divide it into two IRAs or more as needed . STEP TWO: (December 3, 2010 at lunchtime .) Recharacterize or unconvert any Roth accounts that lost substantial value from the conversion date of 1/4/2010 . These accounts should be converted again to Roth IRAs on January 3, 2011 at 9:57 am CST . STEP THREE: (September October 15, 2011 .) Analyze and run your conversion numbers based on all known factors including increases in Roth accounts since the conversions . STEP FOUR: (October 17, 2011, 8:30 am CST .) Unconvert or recharacterize any accounts not selected to remain Roth IRA conversions back to regular IRAs . CINDERELLA STORY As you can see, you should convert to a Roth IRA first, then run the numbers later . This is because the IRS gives you until mid-October of the year following the year of a Roth conversion to undo the conversion . This do over is technically called a recharacterization. Your Roth IRA conversion is not final or complete until you pass this deadline for unconverting.
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| Customer Reviews:
Showing reviews 1-5 of 12
Great Source of Information about Roth IRA Conversions July 3, 2010
M. McGrath
This book is an excellent source of information to help you decide whether or not you should convert your regular IRA to a Roth IRA. It is clearly written, and easy to understand, even for those who are neophytes when it comes to financial planning and tax matters. After reading this book, I mentioned some of John Bledsoe's ideas on conversions to relatives and friends some of whom are professionals in financial planning and accounting. They all were intrigued and planned on reading this book immediately. I highly recommend this book!
John figured it out - the Roth Conversion is a (free) financial option! June 13, 2010
Ready2Retire (New England)
1 out of 1 found this review helpful
I am a professor in Quantitative Management at a highly ranked Business School in the Northeast, received a Fulbright Scholarship and other distinguished awards. When faced with the decision to convert my IRA to a Roth, however, I was as confused as anyone out there (the advice found on the Web was to consider present tax rates vs. predicted future tax rates, etc., but no straight answer). John's Gospel made me see the Light! The book contains very practical advice on converting to a Roth; which (academically speaking) exploits the fact the Uncle Sam gives you the Roth Conversion Option for free!
After reading the book, I had a couple of questions about my personal situation. E-mailed John and got a phone call to help me out!
I recommend this book to everyone who is serious about retirement: it is written in plain English and gives actionable advice.
Confusing topic made EASY! May 26, 2010
Aimee Newman (Aurora, CO.)
John's book is straight forward and easy to follow. John gives you the step by step reasons and answers to enable you to make good financial choices! John's presentation is outstanding and will help anyone save money!
 Good But Too Long April 20, 2010
CL (Bridgewater, N.J.)
1 out of 1 found this review helpful
This is a good book covering the rationale for starting or converting a traditional IRA to a ROTH IRA. As is the case with so many books, there is only enough content for an article, rather than a book. But, articles can't make the same amount of money for an author as can a book, can they? So, it is too long and repetitive. The many tables of data are helpful, reducing the need for the reader to do so calculations.
Made my CPA think February 15, 2010
Randy Pennington
2 out of 2 found this review helpful
I took a copy of John's book to a meeting with my CPA to talk about tax planning. I have been with this accountant for years, and he understands taxes as well as anyone. He was initially concerned about the cash implications of transferring my retirement funds to a Roth IRA - then I told him about two ideas I read in this book: (1) the opportunity to convert funds back to their original status by the end of the year; and (2) the idea of setting up multiple Roth IRA's in different asset classes to see the winners and losers. My accountant knew about the first idea, and he was blown away by the second. He immediately asked if he could borrow my copy of this book. Here's the point - John is a friend, and I think he has written a great book. BUT, when your CPA says just one of the ideas in the book changed his thinking about the possibilities of a Roth IRA, well that is the proof I need to know that John Bledsoe is on to something with this important book.
Randy G. Pennington
Author, On My Honor, I Will
Showing reviews 1-5 of 12
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