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At 09:46 PM 4/7/98 -0500, Peter Namtvedt wrote:
>At 09:43 PM 4/7/98 -0500, THE DOCTOR wrote:
>>I'm curious how the conclusion was drawn that "a lot" of the old ones are
>>being converted to Roth IRA's. I saw some stats that very little
>>conversion business is being done. Can you confirm your data/comments or
>>is merely a "view"?
>>
>>Peter Namtvedt wrote:
>>
>>> At 07:16 AM 4/7/98 -0700, Richard Bond Sr wrote:
>>> >I have not seen reference to a "IRA" effect, yet we all
>>> >look at the April 15th deadline. This year the changes
>>> >in IRA rules seem to have brought back the inflow at tax time.
>>> >
>>> >??
>>> >
>>> >rcb
>>>
>>> rcb:
>>>
>>> A lot of old IRAs are being converted to Roth IRAs. That means taxes
>>> are being paid now to avoid future tax of both principal and earnings.
>>>
>>> PeteNa
>>> petena9090@xxxxxxxxxxxxxx
>>
>>
>>
>>
>DOCTOR:
>
>I cannot disclose where I am working, but $50 Million in 2 months
>is not peanuts.
>
>PeteNa
>
>
>petena9090@xxxxxxxxxxxxxx
>
Holy cow, how many times are you going to post this?
50M new money to a small firm in the financial industry is
considerable. This is only Roth conversions, not any other
sales.
PeteNa
petena9090@xxxxxxxxxxxxxx
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