Author Topic: Not a new topic but a newbie asking 401k conversion to Roth  (Read 1556 times)

jdgoodrich2020

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Not a new topic but a newbie asking 401k conversion to Roth
« on: January 20, 2020, 12:19:39 PM »
Hello,
As a newbie, I did scroll through the postings to try and find answers, but I actually am now more confused than before. I am 54 turning 55 and employed and contribute my max 18k to my 401k this past year, I also contributed catch up contributions but fell short a little........My question is how and when is the best way to begin converting this 401k (employee sponsored) account to a Roth. Also, would it be best for me to start contributing to a ROTH now? Thank you in advance for clarifying.

Much thanks,
Goodrich

gocurrycracker

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Re: Not a new topic but a newbie asking 401k conversion to Roth
« Reply #1 on: January 21, 2020, 03:04:46 AM »
Generally, if your marginal tax rate now is lower than your marginal tax rate in retirement, contributing to Roth is better. If the opposite is true, then Traditional.

Same applies to conversions.