Should I Roll My 401(k) Into a Roth IRA?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 26 December 2022

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel, Kristina Ellis & Jade Warshaw. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:14.1	Bonnie is with us.
0:15.1	Bonnie is in Rockford, Illinois.
0:17.1	Hi, Bonnie, how are you?
0:18.5	Better than I deserve, Dave.
0:20.1	Good.
0:21.1	How can I help?
0:23.9	My employer is moving our 401k from a local financial service to fidelity.
0:32.2	My financial planner suggests that now is the time that I could move that money over into
0:38.4	a self-directed IRA.
0:40.2	I'd have many more investment options that way.
0:44.0	Not a self-directed, but just an IRA in your name.
0:49.2	Right.
0:50.2	There's a difference.
0:52.2	You don't want a self-directed, you don't need that.
0:54.4	Just do it roll over because with the change of companies, you're allowed to roll your 401k
0:58.8	over.
0:59.8	Yeah, I would do that.
1:00.8	Is your 401k currently a Roth?
1:04.6	It's probably mostly 401k.
1:06.8	I did change.
	...

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