I apologize for the annoying title but we do feel dumb, and sadly he feels embarrassed to call HR and ask these questions. I know that's awful but I can't force him. I'm hoping you guys can help. Roughly about 2-4 years ago (it's hazy) his company offered a ROTH IRA as part of the employer plan for the first time. We had to decide to stay traditional or go ROTH. We chose ROTH. Up until then, we had been contributing pre-tax to a traditional 401k. (I believe they also switched from Wells Fargo management to Vanguard around the same time.)
Now a few years later we are wondering did we roll over his old 401k retirement fund over to a ROTH? We don't remember filling out any extensive paperwork for that, and his ROTH IRA retirement balance of over 100k seems to be much higher than what we would have accumulated during the last 2-4 years, so it leads us to believe that maybe we did, but would there not have been tax consequences for doing so? We certainly never had any notes of that pop up while filing our taxes.
If you are kind enough to help answer this for me, I'm also wondering after maximizing the employer match, what should we do next? We were about to fund a Merrill Lynch brokerage account that we just opened days ago, but now I'm reading online and wondering if we should also fund a traditional IRA first. If we should, how much, and would you please explain why (in a nutshell).
-Signed confused SAHM with an engineering degree that feels this should not be this confusing sigh
Ps in case more details are in order, our only debt is our mortgage.
Submitted March 20, 2017 at 01:54AM by Sparklydays http://ift.tt/2mZ5UT1
