Should I Transfer My 401(k) to a Roth

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 2 September 2024

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Janet's with us in Palm Springs, California, hi Janet, how are you?
0:26.0	Good, how are you?
0:27.0	Better than I deserve.
0:29.0	What's up?
0:30.0	Sure.
0:31.0	Okay, so my question today revolves around transferring or rolling over a Roth into a
0:36.2	traditional 401k with an employer. So my husband's been with this company for over 10
0:40.9	years and they had previously not offered a Roth option and they just
0:45.6	announced that they would now have that option for them.
0:49.3	So we're wondering if it would be best.
0:51.6	I know that you do suggest having the cash available to pay the
0:55.2	taxes we would have to pay on it, but does it make sense to keep it within the company or
0:59.8	should he just roll it out of the company altogether and he still works there?
1:04.4	He still works there.
1:06.1	You can't move it out if you still work there.
1:08.5	Okay.
1:09.5	Okay.
1:10.5	Now he has two possible three options here.
1:12.4	One is he can do what he's doing, which I don't recommend. Number two, he could make all future contributions be Roth, and there's no taxes caused by that.
1:23.4	Yes, he plans to do that.
	...

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