I hate to admit it but I haven’t been the most financially responsible when it comes to my 401K. When I left Instyle in March I was presented with what some would say is a golden opportunity. I could roll over my 401K in to an IRA and have more control over my retirement investing. Most people take the easy (and some would say lazy way) and just roll over their 401K in to their new company 401K BUT my new job doesn’t do 401K matching so I knew I wasn’t going to go with that option. But it’s July and I still haven’t done anything with my old 401K.
I think the reason why I have been hemming and hawing about doing it is that I have a Roth IRA so I’m confused. Should I rollover my 401K in to my Roth IRA or in to a new IRA? Can I have both a Roth IRA and an IRA? Can you even roll a pre-tax 401K in to an after tax Roth IRA? Major questions that I need to answer before I screw myself financially or make the wrong choice and owe the tax man.
The good thing is that Fidelity makes it very easy to roll over. Online it will only take about 15 to 20 minutes. So it’s really about me taking the time to research the answers. I’m not getting hurt financially that much. I haven’t contributed anything to it in almost 4 months but of course it is still growing…obviously not as much as if I was contributing to it or controlling the investing in it.
So to my fellow nerdy financial friends…got any answers to my questions or any advise on what I should do? Time and money is a wasting.
Type A - Workaholic 
hi tiffany…annette farmer from your mediabistro social media and web writing classes. hope all is well with you.
just fyi, roth ira is for after-tax dollars and an ira is for untaxed dollars so you can’t roll 401k into a roth. but you can have simultaneous and separate roth and regular ira accounts. you should contact a financial consultant or check some of the many articles on retirement options for more info.