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Question about a Roth 401(k)

Posted on 7/14/20 at 5:28 pm
Posted by Phate
Baton Rouge
Member since Mar 2006
11723 posts
Posted on 7/14/20 at 5:28 pm
My wife has a small amount in a Roth 401(k) from a former employer. She has a Roth IRA with Vanguard. Can this be rolled over to Vanguard? If so will it reduce the $6K she can add for the year? In March I maxed out her Roth IRA so I just need to know if I can roll it over now or if I have to wait until 2021.
Posted by Danny Woodhead
Member since Oct 2013
694 posts
Posted on 7/14/20 at 5:31 pm to
You should be fine. Rollover does not count towards annual net new contributions.
Posted by IM4LSUTIGERS
Member since Dec 2006
974 posts
Posted on 7/14/20 at 7:25 pm to
Yes, you can roll it over - no impact on annual contributions.
Posted by Phate
Baton Rouge
Member since Mar 2006
11723 posts
Posted on 7/14/20 at 7:34 pm to
Perfect. Thanks to the both of you.
Posted by Chalkywhite84
New orleans
Member since Dec 2016
27025 posts
Posted on 7/14/20 at 8:59 pm to
I have a Roth 401k from a job also
Should I roll it over to etrade or should I roll it to vanguard
Posted by LSUtiger89
Baton Rouge
Member since Dec 2007
3635 posts
Posted on 7/15/20 at 7:59 am to
The contributions are applied to the year they were contributed. A rollover doesn’t change the year the contributions were done. So you can roll it over.
Posted by wasteland
City of peace
Member since Apr 2011
5600 posts
Posted on 7/15/20 at 9:50 am to
Depends on how you want to invest. Low cost index funds? Can’t beat vanguard. Trading stocks? ETrade probably better
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