I just set up a Traditional IRA and Roth IRA through Vanguard to roll over previous employer 401k. Since the 401k was a mix of Traditional and Roth, it was suggested to open both IRA types, and the money got dispersed accordingly. Right now it is just sitting in a default money market (?) until I do something with it.
I have about $25k in the Traditional, and about $8k in the Roth.
The issue: I want to put this in the 4 mutual funds I had in the 401k program, but since the minimum investments are $3k (VGTSX, VBMFX) and $10k (VFIAX, VEXAX), I cannot invest in these, unless I put the two $10k options under the Traditional, and the two $3k options under the Roth. I feel like this is a weird way to start out, and just makes it unnecessarily complicated for me.
There's all this talk about converting Traditional to Roth.
Should I just convert the Traditional now so that all my money is in the Roth, and then buy the funds? If so, do I just call Vanguard and have them do it? Will I need anything for the 2017 taxes, and if so, will they be given to me?
Sorry for the question overload, but someone please help.
Submitted December 19, 2017 at 01:09PM by SNIPES0009 http://ift.tt/2kjBU4s
