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clickboom
LSU Fan
Baton Rouge
Member since Sep 2012
65 posts

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.


agdoctor
LSU Fan
Louisiana
Member since Dec 2004
1960 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.


clickboom
LSU Fan
Baton Rouge
Member since Sep 2012
65 posts

re: Fidelity IRA and Roth IRA
Ok good to know. Thanks for the advice.


matthew25
Ole Miss Fan
Member since Jun 2012
4022 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
102 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
4221 posts

re: Fidelity IRA and Roth IRA
Without any more detailed information about you, I would leave it as it currently is.


clickboom
LSU Fan
Baton Rouge
Member since Sep 2012
65 posts

re: Fidelity IRA and Roth IRA
What info do you need?


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