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The quickest way to get a relatively large sum into a Roth IRA so you can start taking advantage of the wonderfulness is to convert a traditional IRA with a hefty account balance into a Roth account.
Doing a conversion this year will trigger a bigger federal income tax bill for this year (and maybe a bigger state income tax bill too). A Roth conversion is treated as a taxable distribution from your traditional IRA, because you’re deemed to receive a payout from the traditional account with the money then going into the new Roth account.
Nearly 20 years ago, after a sleepless night worrying about her future, Ms Karlsson got out of bed at 3am and put her dreams on paper.
24, the Swedish-born world traveller had moved to Melbourne, Australia, to be with her partner, Paul Lacy, and she was desperate to find her purpose in life. With Mr Lacy's encouragement, Ms Karlsson wrote what she now calls her "3am list", a set of goals and values for the future.
Find out more about “Left Standing: The Miraculous Story of How Mason Wells's Faith Survived the Boston, Paris, and Brussels Terror Attacks” to learn more about how Wells overcame the unthinkable – and is now thriving.
Forgiveness is a topic I have personally grappled with this past year, as I co-authored a book about Mason Wells, a young man who survived multiple terrorist attacks and, despite facing potentially life-altering injuries, chose to forgive the terrorists responsible.