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Old 04-22-2015, 04:37 PM   #21
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Originally Posted by 38Chevy454 View Post
I guess I could have been more clear. My assumption was OP Chet had other income since he has not taken any 401k withdrawals until now that he is required to by age. Maybe Chet has a large cash bundle under his mattress, or else he likely has some type of income.

I do agree the simple answer is you can't do a direct Roth conversion with RMD money. Also you need other income at least equal to the amount you intend to put into Roth account.
Chet is probably long gone, but what he would need is not other income, it is EARNED INCOME. I never took any distributions of any kind until RMDs were required, but I have not had any earned income for many years so no Roth contributions for me. That is what it means to live by one's assets.

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Old 01-18-2016, 09:32 AM   #22
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Well i am here, and i don't have anything stashed away, i still work a few days a month to help pay my wife's insurance she is 62, so now being 70 and almost 4 months, i will contact Fidelity and start a RMD plan. anything that should mention to them while i have them on the phone.

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