401k rollover to Roth IRA
Terry, I’m 67 and retired. I have about 550,000 in my 401, and also get pension checks each month. Annual salary is 60k. Should I start transferring 5 or 10K a year from 401k to a Roth IRA?
Terry Says
This is the time to do a rollover of your entire account to an IRA — no taxes involved.
Read this: https://www.terrysavage.com/rollover-now/
That IRA will give you a wider range of conservative investment choices.
This might be a good time to roll some money each year — BUT check with your tax advisor because the conversion could put you in a higher tax bracket — or even worse, it could impact your Medicare Part B and D premiums. You want to stay under the annual income limits.
