CASlayden
Aug 16 1999, 01:59 AM
50yr old, divorced, 700K in property, 300K in investments, 101K in Roth, 3K/mo in child support. All $'s as property settlement so no taxes on them. no other income. Should I be in a Roth?
John G
Aug 16 1999, 04:49 PM
If you are in good health, your life expectancy is three plus decades. Thats a lot of time for your investments to grow tax sheltered. That is good news. You didn't mention heirs but did note child support. The Roth can be a useful inheritance planning tool. Another plus.
You did not say anything about income, your personal living expenses, or pension/retirement plans. If your circumstances are fairly standard, I don't see why you would not want to keep your Roth and fund it in future years if you are eligible.
You may want to buy a couple of hours from a financial planner to review your circumstances. I am always amazed by the number of people who can spend $300 on dinner, theater, or a weekend outing, but don't see the value in gaining professional info. The answer to your question will be shaped by your personal situation.