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Would it be a good ideal to roll over my funds from 401k to Roth IRA?

April 26, 2017Business Finance funds good roll roth ira

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Would it be a good ideal to roll over my funds from 401k to Roth IRA?

1 Answer

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no because a 401K is tax deferred and a Roth IRA is after taxes. If you roll your 401K over to a Roth IRA then you will have to pay an early withdrawal fee (up to 10%) for the 401K and pay taxes on the money you roll over into the Roth. leave your money where it is or roll it over into another tax deferred account. you can still open a Roth IRA with other money.