Fidelity IRA and Roth IRA | TigerDroppings.com

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clickboom
LSU Fan
Baton Rouge
Member since Sep 2012
54 posts
 Online 

Fidelity IRA and Roth IRA



Been lurking the money board for a while and have a question for y'all. I had two 401ks that got rolled over. One went to a traditional IRA and the other to a Roth IRA I called fidelity at one point and they said to just keep both. What are y'all's opinions on that? TIA.






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agdoctor
LSU Fan
Louisiana
Member since Dec 2004
1851 posts

re: Fidelity IRA and Roth IRA


if you are under 40 and average income I would convert the traditional to a roth. Otherwise I would probably leave it alone.If you do convert remember you will owe the income taxes.





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clickboom
LSU Fan
Baton Rouge
Member since Sep 2012
54 posts
 Online 

re: Fidelity IRA and Roth IRA


Ok good to know. Thanks for the advice.





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matthew25
Ole Miss Fan
Member since Jun 2012
3489 posts

re: Fidelity IRA and Roth IRA


I would guess your Fidelity accounts charge more than other similar accounts. Do some research. I did and am converting to Vanguard.





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tigerrocket
LSU Fan
Member since Aug 2008
90 posts

re: Fidelity IRA and Roth IRA


Run the conversion numbers so that you can make an informed decision regarding tax liability on conversion. Now is a good time to do this because you should know what your income will be for 2012. Keep in mind that you can convert some each year. ie: convert 1/2 before the end of the year and the other 1/2 in January to spread the tax over two years. (don't pay the tax out of the account)





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BestBanker
LSU Fan
stuck in a moment
Member since Nov 2011
3417 posts

re: Fidelity IRA and Roth IRA


Without any more detailed information about you, I would leave it as it currently is.





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clickboom
LSU Fan
Baton Rouge
Member since Sep 2012
54 posts
 Online 

re: Fidelity IRA and Roth IRA


What info do you need?





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