Hi guys,
Since the income in my bond fund (TROWE Spectrum Income balance of $5,700) is being taxed, someone recommended that it should be moved to a Roth IRA.
If I were to do that, I could max out my Roth in one fell swoop and commit these funds to retirement. (2 years ago, I created the fund as a supplemental lower-risk fund to a growing EF. Upon rethinking my goals and reevaluating my situation with a fully funded EF, I think this money should go towards retirement.)
For 2011, this would then allow me to put $417/mo to a more aggressive stock fund than my Fidelity Target 2040 in my existing Roth IRA. (My current allocations for retirement are 70% stocks and I'd like to get closer to 80%.)
So, should I pull the trigger and create a new IRA, fully funded for 2011 by this bond fund?
Thanks!
Since the income in my bond fund (TROWE Spectrum Income balance of $5,700) is being taxed, someone recommended that it should be moved to a Roth IRA.
If I were to do that, I could max out my Roth in one fell swoop and commit these funds to retirement. (2 years ago, I created the fund as a supplemental lower-risk fund to a growing EF. Upon rethinking my goals and reevaluating my situation with a fully funded EF, I think this money should go towards retirement.)
For 2011, this would then allow me to put $417/mo to a more aggressive stock fund than my Fidelity Target 2040 in my existing Roth IRA. (My current allocations for retirement are 70% stocks and I'd like to get closer to 80%.)
So, should I pull the trigger and create a new IRA, fully funded for 2011 by this bond fund?
Thanks!
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