Roth IRA Conversions
In 1997, the Roth IRA was introduced. This new IRA allowed for contributions to be made on an after-tax basis and all gains (or growth) to be distributed completely tax-free. Since then, people with incomes under $100,000 have had the option to convert all or a portion of their existing Traditional IRAs to Roth IRAs. Beginning in 2008, participants with funds in eligible employer-sponsored plans could also roll those funds directly over to a Roth IRA in a qualified rollover if their income did not exceed the $100,000 threshold. Starting in 2010, all IRA owners and participants in eligible employer-sponsored plans, regardless of income level, are eligible to convert their Traditional IRA and pre-tax funds in an employer-sponsored plan [401(a)/(k), 403(b) and governmental 457(b)] to a Roth IRA. Is this a good option for you? A conversion has both advantages and disadvantages that should be carefully considered before you make a decision. This calculator compares two alternatives with equal out of pocket costs to estimate the change in total net-worth, at retirement, if you convert your Traditional IRA into a Roth IRA.
Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
It was a week of waiting and watching for the Alabama Crimson Tide. Despite having two losses on their resume, many felt the Tide deserved to squeak into that final 4th Playoff spot. Alabama shows up to the boarding of the Playoff plane but can't seem to get past the gate.
Learn about LPGA Tour Golfer Ally Ewing and see why she chooses Renasant to simplify her banking.
Renasant is proud to present Dream Together – an exciting behind the scenes look at Nashville SC, narrated by Kirk Herbstreit. Follow along as the Boys in Gold take the pitch for the Music City for their third season in the MLS. #EveryoneN
At Renasant, we want you to bank in style, and even get rewarded when you do so. Renasant Rewards Extra has a number of extra benefits. From access to insurance to refunds, this is truly the checking account that checks all the boxes.
Courtney and Sarah went down to visit Leisha Pickering of Musee Bath to learn about her incredible mission and passion of empowering the people of her community.
Whether you’re on a vacation, studying abroad, or traveling just to be travel, it is always important to keep your money safe while doing so. Discover several useful tips to keep your money and accounts safe while traveling. Bon Voyage!
Rise with Renasant, our women’s empowerment initiative, makes a difference for women in the communities we serve. At Renasant Bank, we are steadfast in our mission to support female leaders, achievers, and innovators.