What is the name of your state? Georgia
Hi, I've got a question I hope someone here can help myself and my wife with.
My wife is a US citizen, 45 years old, and leaving her job (being made redundant) later this year. She has a 401k at the moment. I'm a UK citizen who's been living here since we married in May 2003. When my wife is made redundant we're going to move to the UK and settle there.
Is there a way she can convert her 401k into a Roth IRA, so that she pays less/no taxes when she starts withdrawing her savings ? She's looking at making withdrawals earlier than age 59, and we're looking to pay as little tax as possible on those withdrawals, but keeping it legal
We've seen some mention made to a conversion over a number of years, but would like to confirm if this is possible.
Many thanks for any replies.
Pete & Leslie.
Hi, I've got a question I hope someone here can help myself and my wife with.
My wife is a US citizen, 45 years old, and leaving her job (being made redundant) later this year. She has a 401k at the moment. I'm a UK citizen who's been living here since we married in May 2003. When my wife is made redundant we're going to move to the UK and settle there.
Is there a way she can convert her 401k into a Roth IRA, so that she pays less/no taxes when she starts withdrawing her savings ? She's looking at making withdrawals earlier than age 59, and we're looking to pay as little tax as possible on those withdrawals, but keeping it legal
We've seen some mention made to a conversion over a number of years, but would like to confirm if this is possible.
Many thanks for any replies.
Pete & Leslie.