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Going the Roth IRA route

Comment comment by Brandon on 18 September 2007

As an update, I've decided to go the Roth IRA route. After talking to someone at Fidelity (1-800-FIDELITY), I found the way this is done is to rollover the old 401(k) into a "rollover IRA" - accounts setup for this very purpose. I then convert this into Roth IRA(s) - at which point the funds are counted as income and taxed.

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RE: Going the Roth IRA route by ldsudduth :: NR6

Too bad your new employer doesn't offer a Roth 401(k)...then you'd REALLY be tax-free when you retire, except for the employer match. BUT..I'd rather be taxed on only about 1/3 of what I withdraw than on all of it..

Posted 18 September 2007, Hide, Parent, Reply