I have so much going on in my head that I am starting to confuse myself. I need to bounce this off you smarter folks so I don't make a mistake here.
I'm the middle of a rollover from my previous employer 401k (155k) to a brokerage traditional IRA account with my bank. I am a relatively high income earner so I cannot deduct the traditional IRA income but I can just barely contribute the 5500 to the Roth every year. I was told this was my best option (by my bank) because I wouldn't take the tax hit on it if I do a direct rollover. At that point I can contribute it to any fund I want instead of being stuck with my current employer 401k option.
First off, does that sound reasonable?
Secondly, now that I will have my money in the Traditional, is there anything keeping me from doing a mega backdoor Roth?
Lastly, what do I do with the it? I'm in analysis paralysis. I've got so many options now that I just can't decide. I'm leaning towards some kind of ratio of Admiral, Berk B, and other vanguard options.
Any further guidance from you guys would ease my mind here. Thanks.
Submitted May 07, 2017 at 11:14AM by DruggistJames http://ift.tt/2qGkXFM
