What happens if you exceed the income limits of a roth IRA after years of contributing to it? Can you convert it to traditional? how does this work with taxes?

I know that starting next yr, it will be possible to roll those 401K accounts eligible for rollover into an IRA to be rolled directly into a Roth IRA. If 100K is rolled over from a 401K to a ROTH IRA in 2008, will all 100K be taxed in 2008.

Aren’t they just paper losses? When the market recovers later on, won’t they recover their “paper losses” sometime in the future? I don’t understand this. Can someone please explain it to me. I figure it’s not a loss unless they cashed out of their programs and actually “realized” their losses.

I know that I can take money out of a Roth IRA tax free for education expenses and that the money in a Roth IRA grows tax free, so why would I want a 529 instead?

How much should a person make before starting to think about investing in a Roth account?

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