Long Term Investing & Retirement: The second best time is now

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Long Term Investing & Retirement: The second best time is now

«‹›1208 »

Mad Wack: Mar 27, 2008; "The faster you use your cooldowns, the faster you can use them again"

mrmcd posted:

There are no actual Fidelity banking branches if you need something like a cashier's check.

if they are at all like ally which also has no physical branches you can call and they will overnight you a cashier's check

# ? Nov 10, 2023 20:29

Adbot: ADBOT LOVES YOU

# ? May 16, 2024 06:56

drk: Jan 16, 2005

Set up the CMA, was pretty straightforward. Apparently I had a fidelity account from like 25 years ago with a few cents in it, so I was able to add the new account to my existing info.

FYI, if anyone is considering opening an account, there is currently a $100 account opening bonus with code FIDELITY100. I certainly didnt open the account to get the bonus, but its a nice plus.

I'll look into the various core position options and what not after I get some money in the account and get my payroll moved over.

# ? Nov 10, 2023 20:33

Subvisual Haze: Nov 22, 2003; The building was on fire and it wasn't my fault.

Bremen posted:

Mine isn't a cash management account, but I have what's listed as an "Individual" account at Fidelity. I just leave the money in cash and have it set to keep that in SPAXX, which is currently yielding about 5% and since SPAXX is also Fidelity they're fine with me drawing the money out as needed for same day payments. Actually you should listen to Jabarto about this, it sounds like they know it much better than I do.

Doing some reading, it looks like the difference between my account and a CMA is that I don't get a debit card, checks, or free ATM use, though that works out for me since I also have a Fidelity credit card for the 2% cash back and it's set to automatically pay the balance each month out of the individual account so I use that instead of a debit card or checks for everything except ATMs. But I also have a small checking account at a local bank for that, so if you want it to be your only account I can understand the benefits of a CMA.

All told I'm quite happy with it. I am a child of the internet generation so doing my banking through their webpage instead of a physical location is a solid plus for me, and earning $13.50 in interest this month off what amounts to a few thousand dollars I keep around to pay my bills is quite an improvement over what my checking account gets.

Actually you can get a debit card and write checks from an individual/brokerage account too (it's quite easy too, just go to the "account features" tab and you can request each individual option to be added to the account). Apparently the only real advantage a CMA has over a brokerage/individual account is waving of ATM fees. The brokerage account also has a clear advantage in interest rates since the core positions there are yielding around 5% interest (FZFXX or SPAXX).

The only real reason I can think not to just use the individual/brokerage account as a checking account is behavioral. Resisting the temptation to yolo your bill paying money on more investments etc. It might be useful then to still have a pure checking account either CMA or at another bank that you fund from the individual account just as needed. Also some are leery about linking a debit card to a potentially very large cash account for fraud purposes.

# ? Nov 10, 2023 21:02

Bremen: Jul 20, 2006; Our God..... is an awesome God

Subvisual Haze posted:

Actually you can get a debit card and write checks from an individual/brokerage account too (it's quite easy too, just go to the "account features" tab and you can request each individual option to be added to the account). Apparently the only real advantage a CMA has over a brokerage/individual account is waving of ATM fees. The brokerage account also has a clear advantage in interest rates since the core positions there are yielding around 5% interest (FZFXX or SPAXX).

The only real reason I can think not to just use the individual/brokerage account as a checking account is behavioral. Resisting the temptation to yolo your bill paying money on more investments etc. It might be useful then to still have a pure checking account either CMA or at another bank that you fund from the individual account just as needed. Also some are leery about linking a debit card to a potentially very large cash account for fraud purposes.

From the sounds of it you can still put the CMA money into SPAXX and have it auto-convert to cover withdrawals, so it really just comes down to whether needing to use their website to manually buy a fund is worth the free ATM use. Which, if you're going to use the ATM at all and are the kind of person who posts on SA, is fairly likely to be yes. I guess there's also some amount of risk, but my philosophy is that if a short term government treasury fund tanks, a bank account probably wouldn't be in a great spot either.

Of course, the yield on short term government treasuries is probably not going to stay at 5% long term, but it's a really nice way to be parking your checking or equivalent money right now. That's what finally got me to stop keeping so much in my checking account after years of very low yields.

Bremen fucked around with this message at 22:34 on Nov 10, 2023

# ? Nov 10, 2023 22:29

Small White Dragon: Nov 23, 2007; No relation.

Not a Children posted:

I recently had a pow-wow with my 401(k) administrator (through Vanguard), a service offered for free through my employer. I've been lucky enough to be able to consistently max out my 403(b) and Roth IRA, and am trying to chart the best course for early retirement. Since I started my career I've been using pretax 401(k)/403(b)s, and ROTH IRAs as is the general wisdom. The advisor I spoke to was of the opinion that because I can afford it I should contribute to a Roth 403(b) rather than contribute with pre-tax income to reduce my taxable income in the future. I'm in my mid-30s, so it's not unreasonable that I'd be making more later on.

My employer offers after-tax contributions with immediate rollover to a Roth - the mega backdoor, which is an amount of cap space I could make substantial use of but would not be able to max. Between a modest contribution to that and my Roth IRA, is that a good balance, or is there a reason to go full ROTH on all vehicles? My reckoning is that having access to the principal without penalty before I hit 59.5 years is a good hedge.

Happy to provide more detail if that's helpful.

I personally like to hedge my bets and do a bit of both (except for IRAs, which are all Roth to avoid messy conversions), especially since my income now is probably higher than it will be in retirement. Also, while I don't expect it to happen, there's always the possibility that a future Congress could gently caress around with Roths, whereas it's highly unlikely and logistically difficult for them to go back and take away your deduction from many years ago.

# ? Nov 11, 2023 08:34

twerking on the railroad: Jun 23, 2007; Get on my level

Mad Wack posted:

if they are at all like ally which also has no physical branches you can call and they will overnight you a cashier's check

How do people buy houses with Ally Bank?

I would not be ok with "overnighting" a six digit cashier's check

# ? Nov 12, 2023 00:54

pmchem: Jan 22, 2010

twerking on the railroad posted:

How do people buy houses with Ally Bank?

I would not be ok with "overnighting" a six digit cashier's check

wire transfers are a thing

# ? Nov 12, 2023 01:10

SamDabbers: May 26, 2003

pmchem posted:

wire transfers are a thing

My credit union where I have my checking account and also is my mortgage lender made me do a full paperwork'd wire transfer to take the money out of the checking account to close on my home.

# ? Nov 12, 2023 01:21

Guinness: Sep 15, 2004

twerking on the railroad posted:

How do people buy houses with Ally Bank?

wire transfers.

the title company I dealt with wanted a wire instead of a physical check regardless of institution. instantly verifiable.

# ? Nov 12, 2023 02:24

CubicalSucrose: Jan 1, 2013; Phantom my Opera and call me South Park: Bigger, Longer, & Uncut

How do people buy houses without wire transfers?

Also wire transfers are the scariest things.

# ? Nov 12, 2023 04:42

bergeoisie: Aug 29, 2004

Ally bank wire transfers doubly so since their customer service is deeply unhelpful. I regret not getting a cashiers check from mega corp bank that we also had an account with that had a branch across the street from the place we did closing.

# ? Nov 12, 2023 04:58

spwrozek: Sep 4, 2006; Sail when it's windy

bergeoisie posted:

Ally bank wire transfers doubly so since their customer service is deeply unhelpful. I regret not getting a cashiers check from mega corp bank that we also had an account with that had a branch across the street from the place we did closing.

I have done a wire twice from Ally to close on a house. No issues either time.

# ? Nov 12, 2023 05:57

Mad Wack: Mar 27, 2008; "The faster you use your cooldowns, the faster you can use them again"

yeah my wire from ally was fine too

# ? Nov 12, 2023 15:56

bergeoisie: Aug 29, 2004

The transfer itself was fine in the end, customer support was just completely unavailable to provide any assistance to the state of the wire transfer. Their line was that they batch the transfers at the end of the day and have no insight once it enters that process. I have no idea if that�s true but I do know I�ll use a different bank next time.

# ? Nov 12, 2023 16:26

Residency Evil: Jul 28, 2003; 4/5 godo... Schumi

Funny, I�ve used Ally a few times for care/house purchases. Everything went through fine but I also had a similar experience with them not having a great idea of the wire status. Are vanguard/Schwab better?

# ? Nov 12, 2023 16:42

drk: Jan 16, 2005

bergeoisie posted:

The transfer itself was fine in the end, customer support was just completely unavailable to provide any assistance to the state of the wire transfer. Their line was that they batch the transfers at the end of the day and have no insight once it enters that process. I have no idea if that�s true but I do know I�ll use a different bank next time.

Batched at the end of the day sounds like an ACH payment, not a wire. Both are electronic transfers, but wires are "real time" (this doesnt mean instant, though it can be), and explicitly not grouped with other transactions. For a US to US bank wire, it would go through Fedwire.

# ? Nov 12, 2023 16:59

bergeoisie: Aug 29, 2004

drk posted:

Batched at the end of the day sounds like an ACH payment, not a wire. Both are electronic transfers, but wires are "real time" (this doesnt mean instant, though it can be), and explicitly not grouped with other transactions. For a US to US bank wire, it would go through Fedwire.

I understand the difference. This was absolutely a wire transfer. I am merely telling you what Ally�s customer support told me. You can find several people elsewhere on the internet (bogleheads, etc) who have reported similar experiences. It is very bizarre and why I am suggesting folks might want to use a different institution for wire transfers.

# ? Nov 12, 2023 17:39

spwrozek: Sep 4, 2006; Sail when it's windy

Yeah, who knows. My Ally wires were both confirmed received within minutes.

# ? Nov 12, 2023 17:47

Subvisual Haze: Nov 22, 2003; The building was on fire and it wasn't my fault.

Bremen posted:

From the sounds of it you can still put the CMA money into SPAXX and have it auto-convert to cover withdrawals, so it really just comes down to whether needing to use their website to manually buy a fund is worth the free ATM use. Which, if you're going to use the ATM at all and are the kind of person who posts on SA, is fairly likely to be yes. I guess there's also some amount of risk, but my philosophy is that if a short term government treasury fund tanks, a bank account probably wouldn't be in a great spot either.

That's interesting, reading up on this it sounds like you're right and Fidelity is smart enough to treat other money market funds beyond those offered as core-positions as sort of secondary cash positions and auto-liquidate them if necessary to cover cash/withdrawals. New money will still default into your core position, but you can manually invest it into an alternative. In that case the superior alternative to SPAXX/FZFXX, which are only like 20-30% treasuries, would be FDLXX, Fidelity's >90% treasury MMF. Assuming you live in a state with income taxes a higher percentage of government obligations translates into lower state taxes on the earnings.

# ? Nov 13, 2023 00:51

drk: Jan 16, 2005

Yeah, annoyingly there is no official list that I found, but the following rules apply

Fidelity posted:

Auto-liquidation requirements for non-core money market funds:

-Fidelity Investments Money Market (FIMM), non-FIMM government, retail prime, and retail municipal funds

-Maintains a stable net asset value

-A liquidity fee has not been imposed

Many people have said they use FDLXX, which is what I plan to do. So, not only will it earn 5% or so (currently), but it is almost entirely exempt from state taxes. Big win for high tax states like California.

# ? Nov 13, 2023 02:35

Jabarto: Apr 7, 2007; I could do with your...assistance.

drk posted:

Yeah, annoyingly there is no official list that I found, but the following rules apply

Many people have said they use FDLXX, which is what I plan to do. So, not only will it earn 5% or so (currently), but it is almost entirely exempt from state taxes. Big win for high tax states like California.

That's what I do. We have a flat state tax here in CO and I'm in a low tax bracket so it works well for me.

# ? Nov 13, 2023 05:47

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

MegaZeroX posted:

I don't think your income level analysis is entirely correct.

First, its worth noting that the only time you have an option is the 402g (elective deferral) limit, the 457 limit (same number as the 402g but accounted for separately) and the IRA annual limit. All other tax advantaged opportunities are Roth (through a mega-backdoor Roth, ESA, 529, or ABLE), triple-advantaged (for an HSA used for medical expenses), or deferred (HSA used after the age of 65 for non-medical purposes).

Next, let's explore a world where all that exists are income taxes (and FICA taxes, which make no difference since they are always taxed anyways). We'll ignore all tax complexities here (and rules unique to roth IRAs), which we will look at later. Then, the only thing that matters is is the top marginal tax rate at deposit versus the top marginal at withdrawal. If they are the same, then traditional is just as good roth, and there is no tax advantage to either one. If it is higher at deposit, then traditional is better, and if it is higher at withdrawal, than roth is better. Thus, one could naively just think "I'll contribute deferred until the tax at withdrawal at my fixed rate will be the same as my current tax rate, then I'll invest in roth," but that would be suboptimal since that would make your taxable income unsmooth during your working years, resulting in higher taxes in roth paying years. Instead, under this model, you should from the beginning be putting into roth and traditional in a ratio such that in the end your top marginal tax rate will be exactly the same as what it was post-deferral in your working years.

Of course, as I mentioned, this model is overly simplistic, because:

Capital gains is taxed after other income, and has a federal tax rate of 0% up to $44,615 in 2023 dollars if single (double that if married filing jointly). AKA, if you keep all your money in roth, you will get a bonus roth account as a reward!

Social security goes from untaxable to 50% taxable when, in (single filing) 2023 dollars, half of your social security income plus tax-free interest (eg: muni bonds) adds up to at least $25k, and to 85% when over $34k.

Roth IRAs won't increase your IRMAA for medicare part b

Roth IRAs won't trigger Net Investment Income Tax

Roth IRAs can keep you eligible for a variety of tax credits/deductibles (basically no MAGI accounts for it, though a few that specially need to count sufficiently high earned income)

Roth IRAs can keep you out of AMT if you happen to have the niche where it could apply

Certain miscellaneous federal/state/local programs that require low income but don't take net worth into account can apply to you

The principal value of Roth IRAs can be withdrawn early without penalty or tax (especially useful for early retirees)

Roth IRAs have no RMDs (unless it is inherited by someone at least 10 years younger than you)

Roth IRAs won't be taxable for anyone that inherits (though are subject to estate taxes if your net worth triggers it). This is especially relevant due to the RMDs on inherited IRAs

Note that most of these favor the wealthy. Those that have more money to invest after all of the tax advantaged accounts, those that would have an income over $97k for IRMAA, those that would have an income over $200,000 for the net investment tax, those with incomes large enough for AMT to matter (with the niche scenarios for it to trigger), early retirees, and those expecting to leave a large inherence.

So, overall, I'd say the utility of traditional is parabolic. Those with ultra-low incomes (or low incomes with dependents) already have a 0% tax rate, so it should be a no-brainer to go for roths. Higher low income and lower middle incomes with dependents slightly favor roth, since while their tax rates aren't 0%, they might save themselves from having their social security being taxable, and the ability to withdraw the principal can help out with emergencies. This turns around with more solidly middle income and lower upper-middle incomes, where the tax deferral is allowing significant additional money to be invested, though prospective early retirees may choose a decent amount to roths still for the withdrawal ability. But once your income is high enough that you are throwing money into a brokerage account, this begins to turn around again, and for the particularly wealthy, the net investment tax is serious (along with the 20% capital gains tax threshold).

Thanks - this was a really good post and it's all factually correct and can be good to think about. At some point, though, a lot of this stuff is pretty marginal / "you've already won" type stuff. Maybe this is overly simplistic and reflects my very middle class background, but if I'm pulling down $250K annually in retirement I've won. At that point I'm not gonna be fussed if I'm paying the 3.8% net investment tax or if I end up paying a few hundred bucks more for Medicare Part B each year.

# ? Nov 13, 2023 14:49

nelson: Apr 12, 2009; College Slice

KYOON GRIFFEY JR posted:

if I'm pulling down $250K annually in retirement I've won.

You say that now but just wait until inflation kicks in.

# ? Nov 13, 2023 15:30

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

nelson posted:

You say that now but just wait until inflation kicks in.

250K in 2063 is roughly $93K in 2023 dollars. That's gonna be just fine.

# ? Nov 13, 2023 15:38

Fuschia tude: Dec 26, 2004; THUNDERDOME LOSER 2019

KYOON GRIFFEY JR posted:

250K in 2063 is roughly $93K in 2023 dollars. That's gonna be just fine.

Assuming only 2.5% annualized inflation feels a bit rosy.

# ? Nov 13, 2023 16:31

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

Fuschia tude posted:

Assuming only 2.5% annualized inflation feels a bit rosy.

I guess average is really more like 3% but sure

anyway whole thing is kind of missing the original point which is: if you have to pay a little extra money for Medicare Part B or the Net Investment Income Tax this is because you are earning a bunch of income in retirement. if that's the case, you've done well. I'm not sure it's worth fussing over potential 3.8% incremental tax on your interest/dividends/cap gains income.

# ? Nov 13, 2023 16:44

Leperflesh: May 17, 2007

We almost always discuss the future in inflation-adjusted dollars anyway, making assumptions about long-term performance of our portfolios that they will outpace inflation by some amount. Typically conservative estimates of an equities-heavy portfolio (like, 70%+ in stock funds) are inflation plus 4-5%.

# ? Nov 13, 2023 17:41

mrmcd: Feb 22, 2003; Pictured: The only good cop (a fictional one).

One thing I learned about wire transfers recently is Swift has a little chat feature where banks can send each other messages asking about transactions. Except it's some ancient technology so they have to write them like telegrams or weather teletype forecasts.

# ? Nov 14, 2023 04:09

pseudanonymous: Aug 30, 2008; When you make the second entry and the debits and credits balance, and you blow them to hell.

mrmcd posted:

One thing I learned about wire transfers recently is Swift has a little chat feature where banks can send each other messages asking about transactions. Except it's some ancient technology so they have to write them like telegrams or weather teletype forecasts.

Banking computerized too early and banks are a horrible hodgepodge of anachronistic 90s systems that barely talk to each other (or don�t and you are exporting and importing csv files that track millions in assets between systems)

I�m constantly amazed that fintech seems to keep failing nonstop.

Everyone seems to want to cheat or scam but just build a traditional bank on a solid modern technology foundation and use your more efficient operating to undercut your competitors with better service and rates.

Nah let�s make a crypto / student loan blockchain AI APP bank lol.

# ? Nov 14, 2023 07:54

seiferguy: Jun 9, 2005; FLAWED
INTUITION; Toilet Rascal

Just got an email that HMBradley is shutting down their deposit program and closing all accounts Dec 15 :rip:

It was good during the low interest rates, but once they rose I had more or less moved everything to Synchrony anyway.

# ? Nov 15, 2023 18:38

SamDabbers: May 26, 2003

seiferguy posted:

Just got an email that HMBradley is shutting down their deposit program and closing all accounts Dec 15

It was good during the low interest rates, but once they rose I had more or less moved everything to Synchrony anyway.

Thanks for the interest payments on my savings, venture capital. It was mildly inconvenient.

# ? Nov 15, 2023 19:00

pseudorandom: Jun 16, 2010; Yam Slacker

My company has just started offering 401k benefits. I'm not sure if there's employer matching on the contributions right now. The problem is I'm fairly frustrated with management and I'm now (slowly) looking for new jobs.

So, my question is: should I bother setting up the 401k now? I could find a new job tomorrow, or a few months from now, or never because I'm lazy. Is it going to be more trouble than it's worth to try to migrate/close the 401k account if I'm going to potentially leave the company fairly soon?

# ? Nov 16, 2023 21:05

MegaZeroX: Dec 11, 2013; "I'm Jack Frost, ho! Nice to meet ya, hee ho!"

KYOON GRIFFEY JR posted:

Thanks - this was a really good post and it's all factually correct and can be good to think about. At some point, though, a lot of this stuff is pretty marginal / "you've already won" type stuff. Maybe this is overly simplistic and reflects my very middle class background, but if I'm pulling down $250K annually in retirement I've won. At that point I'm not gonna be fussed if I'm paying the 3.8% net investment tax or if I end up paying a few hundred bucks more for Medicare Part B each year.

Sorry for the late response, but yeah, most of them are somewhat minor. The biggest thing is the 0% capital gains, which for married people that are sole breadwinners who expect to work 30 years, where the real value to approximately triple with a 30 year retirement horizon to be able to contribute about 50k to what is virtually a roth account.

pseudorandom posted:

My company has just started offering 401k benefits. I'm not sure if there's employer matching on the contributions right now. The problem is I'm fairly frustrated with management and I'm now (slowly) looking for new jobs.

So, my question is: should I bother setting up the 401k now? I could find a new job tomorrow, or a few months from now, or never because I'm lazy. Is it going to be more trouble than it's worth to try to migrate/close the 401k account if I'm going to potentially leave the company fairly soon?

I would check in with HR about their personal rules about rollovers

# ? Nov 16, 2023 21:22

CubicalSucrose: Jan 1, 2013; Phantom my Opera and call me South Park: Bigger, Longer, & Uncut

pseudorandom posted:

My company has just started offering 401k benefits. I'm not sure if there's employer matching on the contributions right now. The problem is I'm fairly frustrated with management and I'm now (slowly) looking for new jobs.

So, my question is: should I bother setting up the 401k now? I could find a new job tomorrow, or a few months from now, or never because I'm lazy. Is it going to be more trouble than it's worth to try to migrate/close the 401k account if I'm going to potentially leave the company fairly soon?

Do it now. If you leave the company, "not touching the 401k at all" until you retire is going to be a very above-average outcome.

# ? Nov 16, 2023 21:46

Chad Sexington: May 26, 2005; I think he made a beautiful post and did a great job and he is good.

pseudorandom posted:

My company has just started offering 401k benefits. I'm not sure if there's employer matching on the contributions right now. The problem is I'm fairly frustrated with management and I'm now (slowly) looking for new jobs.

So, my question is: should I bother setting up the 401k now? I could find a new job tomorrow, or a few months from now, or never because I'm lazy. Is it going to be more trouble than it's worth to try to migrate/close the 401k account if I'm going to potentially leave the company fairly soon?

They're usually pretty easy to rollover and if you can't, it just sits there and that is fine too. Retirement savings is better than no retirement savings. Doubly so if there's a match.

# ? Nov 16, 2023 21:48

daslog: Dec 10, 2008; #essereFerrari

pseudorandom posted:

My company has just started offering 401k benefits. I'm not sure if there's employer matching on the contributions right now. The problem is I'm fairly frustrated with management and I'm now (slowly) looking for new jobs.

So, my question is: should I bother setting up the 401k now? I could find a new job tomorrow, or a few months from now, or never because I'm lazy. Is it going to be more trouble than it's worth to try to migrate/close the 401k account if I'm going to potentially leave the company fairly soon?

Rolling over is fairly easy and you should never put off saving for retirement, unless you have a bunch of high interest rate credit card balances.

# ? Nov 16, 2023 21:55

Salami Surgeon: Jan 21, 2001; Don't close. Don't close.; Nap Ghost

pseudorandom posted:

My company has just started offering 401k benefits. I'm not sure if there's employer matching on the contributions right now. The problem is I'm fairly frustrated with management and I'm now (slowly) looking for new jobs.

So, my question is: should I bother setting up the 401k now? I could find a new job tomorrow, or a few months from now, or never because I'm lazy. Is it going to be more trouble than it's worth to try to migrate/close the 401k account if I'm going to potentially leave the company fairly soon?

The second best time is now to save for retirement.

Worst case I think is if you leave your job with less than $5000 in your 401k. Then your employer can close your account and send you a check, and you have 60 days to rollover. Above $5000, you can keep it in your old 401k until you are ready to rollover into your new employer's 401k or an IRA.

# ? Nov 16, 2023 22:08

pseudorandom: Jun 16, 2010; Yam Slacker

Alright, thanks everyone, I'll set it up.

# ? Nov 16, 2023 22:37

pseudanonymous: Aug 30, 2008; When you make the second entry and the debits and credits balance, and you blow them to hell.

MegaZeroX posted:

Sorry for the late response, but yeah, most of them are somewhat minor. The biggest thing is the 0% capital gains, which for married people that are sole breadwinners who expect to work 30 years, where the real value to approximately triple with a 30 year retirement horizon to be able to contribute about 50k to what is virtually a roth account.

I would check in with HR about their personal rules about rollovers

I don�t think they can stop you from doing a rollover IANAL but I think it�s part of the regulations, once you�re no longer employed there they can�t force you to hold money in their plan. They probably can be nasty about it though.

# ? Nov 17, 2023 03:05

Adbot: ADBOT LOVES YOU

# ? May 16, 2024 06:56

obi_ant: Apr 8, 2005

I was let go from my previous job in July and finished rolling over my 401k into Vanguard. Vanguard created a new account called "Rollover IRA Brokerage Account". It's currently allocated into the Vanguard Target Retirement 2050 fund. There is a button to "Convert to Roth IRA". Is there any reason why I should or should not do this?

# ? Nov 17, 2023 05:24

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Long Term Investing & Retirement: The second best time is now

«‹›1208 »