401 k to backdoor Roth
I have a 401k from a small business that I have now closed. I want to avoid RMD and make easier beneficiary distribution in my estate. So I would like to ultimately have that money go into a Roth IRA. Would you please describe the exact steps I need to do? I read that I need to move money into an IRA then a Backdoor Roth.
Terry Says
You need specific advice, depending on your age, your tax bracket, and even on your Medicare status. Get more information about this process from Vanguard here:
I would suggest that this is the perfect time to get a review of your entire situation from a fee-only FIDUCIARY financial advisor who is not trying to sell you anything. Watch the video here:
https://www.terrysavage.com/pam-krueger-wealthramp/
