Fidelity IRA and Roth IRA | TigerDroppings.com
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clickboom
LSU Fan
Baton Rouge
Member since Sep 2012
63 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
1955 posts
Online

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
63 posts

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


matthew25
Ole Miss Fan
Member since Jun 2012
3832 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
101 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
3682 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
63 posts

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


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