Question by Brian T: Is it possible to change a Roth IRA to a traditional IRA?
I am young, and I know most financial advisors/calculators out there tell you I would stand to benefit from being in a ROTH IRA. However, after researching this, I know longer believe there’s any guarantee the gov’t will keep the policy of not taxing my returns when I retire 30 years from now. I’d rather take the tax benefit now. Your thoughts?

Best answer:

Answer by dan
If you contributed the money into the Roth this year (2007) you can do what is called a “recharacterization.” The company you invest with will have a form to fill out. The only thing is, you can recharacterize THIS year’s contribution back to the traditional IRA, but any contributions you made to a Roth in prior years cannot be recharacterized.

What do you think? Answer below!

I am young, and I know most financial advisors/calculators out there tell you I would stand to benefit from being in a ROTH IRA. However, after researching this, I know longer believe there’s any guarantee the gov’t will keep the policy of not taxing my returns when I retire 30 years from now. I’d rather take the tax benefit now. Your thoughts?

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