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By Roy Larsen, CFP®, AAMS®  Q: If I use the Roth backdoor technique when I'm less than 59 years old, do I have to pay a 10% penalty on the converted amount? A: Great question! No, there is no penalty to convert as you aren't taking a distribution. To maximize the conversion, use outside assets to pay whatever tax may be due. If you take taxes from the traditional IRA, you may water down the effectiveness dramatically.
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By Roy Larsen, CFP®, AAMS®  Q: I just received a letter of reconsideration and my son was denied SSI. He has severe ADHD and is on medication.
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AuthorRoy Larsen is a Certified Financial Planner™ practitioner and Fee Only Wealth Manager who resides outside of Atlanta, Georgia. 
Roy's Financial Blog contains articles on the multiple and complex issues of living successfully in Retirement. There are additional resources on our educational website, www.successfulretirementinstitute.com.
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Larsen Wealth Management, LLC is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Larsen Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Larsen Wealth Management, LLC unless a client service agreement is in place.