Readjusting Your Stocks to Save on Taxes

In the process of recharacterizing a Roth IRA, you also will need to notify the custodian of your account. I'd suggest a call to the custodian as a way to start making the best of a bad market this year.

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This work is the opinion of the columnist and in no way reflects the opinion of ABC News.

David McPherson is founder and principal of Four Ponds Financial Planning in Falmouth, Mass. He previously worked as a financial writer and editor for The Providence Journal in Rhode Island. He is a member of the Garrett Planning Network, whose members provide financial advice to clients on an hourly, as-needed basis. Contact McPherson at david@fourpondsfinancial.com.