A recent study by LIMRA showed 54 percent of current IRA owners, and about three-quarters of all respondents, were unaware of the new Roth IRA conversion rules that went into effect this January.
The new rule eliminates the income threshold that previously prevented anyone with an income greater than $100,000 from converting their traditional IRAs and other eligible qualified retirement plans to a tax-free Roth IRA. Now anyone, regardless of income, can convert to a Roth if it makes sense for them. Also, the income taxes due when you make the conversion can be paid over two years instead of having to be paid all at once.
As more people become aware of new IRA rules, they will be seeking advice on what is best for their situation: a Traditional or Roth IRA. This is a tremendous opportunity for you to get in front of new prospects.
Want to become an IRA expert? Call 1-877-645-4939 and ask about the next IRA Inc. seminar.
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