Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Roth Conversion and College Financial Aid
Old 12-16-2006, 04:22 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,197
Roth Conversion and College Financial Aid

I'd like to do a Roth conversion this year, but I'm concerned that the college will somehow treat it as higher income, and give less financial aid. Alternative is to wait 'til college is over and do it then.

What do you think?
__________________

__________________
Al
TromboneAl is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Roth Conversion and College Financial Aid
Old 12-16-2006, 04:47 PM   #2
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Re: Roth Conversion and College Financial Aid

Quote:
Originally Posted by TromboneAl
I'd like to do a Roth conversion this year, but I'm concerned that the college will somehow treat it as higher income, and give less financial aid.
I agree-- they'll use it against you. After all the IRS treats it as higher income, too.

You could call the college and ask to see the rules in writing, but I'd hesitate to do a Roth IRA conversion in the year before filling out a FAFSA and for all the college years.
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: Roth Conversion and College Financial Aid
Old 12-20-2006, 10:59 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,197
Re: Roth Conversion and College Financial Aid

Yes, I think you're right. I'll have plenty of time to do the conversions after she graduates.
__________________
Al
TromboneAl is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
College financial aid. PROFILE Pre-Application worksheet. Sam FIRE and Money 52 02-01-2007 10:13 PM
Roth Conversion - affecting other credits ERD50 FIRE and Money 4 03-19-2006 07:08 AM
Converting to Roth -- College Financial Aid TromboneAl FIRE and Money 4 06-30-2005 04:26 PM
Roth Conversion and Financial Aid TromboneAl FIRE and Money 0 06-27-2005 08:11 AM
College financial aid planning farmerEd Other topics 38 05-05-2005 08:32 PM

 

 
All times are GMT -6. The time now is 02:33 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.