How many times in your life do you wish you had a “do over” or “take back“.
Often times your stuck with the decision you made and the repercussions that come along with it.
When it comes to investing, many of us have made mistakes over the years. Whether is was underfunding your retirement plan or buying that “hot stock tip” that turned into a disaster; these are decisions that are irreversible.
One decision that does allow you to cash in a “redo” is the Roth IRA conversion.
For those that may have converted their Roth IRA prematurely, here’s what you need to know to reverse it back to a traditional IRA better known as a “Recharacterization“.
Here are the rules on the IRA Recharacterization that you need to know.