Vanguard Ameritrade
What should I know about rolling my 401(k) into a ROTH IRA?
I was recently fired and want to move my 401(k) into a ROTH IRA since it looks like tax rates are likely to increase in the future and I’m currently in a low tax bracket, but am planning on making a lot more by the time I retire (I’m in my 20s).
I use TD Ameritrade for online investing and I see they have a section about rolling over from a 401(k). I also know that Vanguard is known as having low fees so I was looking at them.
What other places or features should I look for when doing a rollover from a 401(k) to a ROTH IRA?
The law recently changed. You CAN do a direct rollover from a 401k directly into a Roth IRA. Your employer can provide you with the forms to do the direct rollover.
Vanguard or T. Rowe Price are excellent choices. Their lower fees will make a huge difference in your portfolio by the time you retire.
I have been a satisfied Vanguard customer for over eight years.
MORE: (from the IRS publication 575)
What’s New for 2008
Rollovers to Roth IRAs. After 2007, you can roll over distributions directly from a qualified retirement plan to a Roth IRA if, for the tax year of the distribution, your modified adjusted gross income for Roth IRA purposes is not more than $100,000, and your filing status is not married filing separately. See Rollovers to Roth IRAs, later, for more information.
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