Hi Everyone,
I am working with my wife to roll over her 401K from her previous employer whom she had left almost 6 years ago. She had elected Roth 401K so we initially assumed she would simply open a Roth account at vanguard and roll it over. We found out the employer match portion was not Roth so we are trying to decide whether it would be beneficial to convert it into Roth or if she should rollover that portion into traditional IRA at Vanguard. That non-Roth balance was ~$75K. My wife and I are 38 years old but new to investing. Based on our age, we probably have >20 years before we retire. Not sure if this is relevant, we are currently at the 24% tax bracket but not far off from the 32% bracket. We would certainly appreciate some input on the things we need to consider whether we should convert to Roth this year. Thank you in advance!![:happy]( "smile")
Thanks,
Yogi
I am working with my wife to roll over her 401K from her previous employer whom she had left almost 6 years ago. She had elected Roth 401K so we initially assumed she would simply open a Roth account at vanguard and roll it over. We found out the employer match portion was not Roth so we are trying to decide whether it would be beneficial to convert it into Roth or if she should rollover that portion into traditional IRA at Vanguard. That non-Roth balance was ~$75K. My wife and I are 38 years old but new to investing. Based on our age, we probably have >20 years before we retire. Not sure if this is relevant, we are currently at the 24% tax bracket but not far off from the 32% bracket. We would certainly appreciate some input on the things we need to consider whether we should convert to Roth this year. Thank you in advance!
Thanks,
Yogi
Statistics: Posted by 4091bear — Thu Oct 03, 2024 9:51 pm — Replies 0 — Views 24