1) Which client listed below would be a good candidate for a Roth IRA conversion?

Group of answer choices

Linda is unemployed right now and has been for the last 3 years. Her savings are mostly depleted and she wants to convert her IRA into a Roth IRA as quickly as possible so that she can begin to take tax-free withdrawals.

2)

Bill has a Roth IRA. In 2011, he made his first contribution. In 2018, now age 60, Bill withdraws the entire account, which includes both contributions and earnings. Since Bill has attained age 59 , the entire account can be withdrawn tax-free.

Group of answer choices

True

False

John is the CFO of a regional manufacturing company. He is currently 64 years old and in the 35% tax bracket. He expects to be in the 15% tax bracket in retirement.

Stephan is a bookkeeper with limited savings, a low tax bracket, and very little saved for retirement, in general. He wants to convert his 401(k) into a Roth IRA so that he can begin to accrue benefits that will ultimately be tax-free in retirement.

Joy is the quintessential wife and mother. She and her husband are currently in the 15% tax bracket, but due to an anticipated inheritance, she expects to be in the 35% tax bracket in retirement. They have substantial savings to assist in the transition if need be.