I have approx. $110k in T-IRA (rollover 401ks) and $110k in employer 401k. Due to my income I haven't been able to contribute to my ROTH IRA in almost 10 years. After recently returning my attention to my finances and reading as much as possible I realized that ROTH IRA has lots of benefits and now there's a way for the higher income earners to contribute to it. Heck I think it's a great place to put emergency funds and dividends since you can take out your contributions anytime you want (of course keeping a portion liquid for this to work).
The only issue is that for me to contribute to ROTH IRA via the backdoor method I have to sell all my T-IRA stuff, then roll it over into my existing 401k which is (currently) all invested in a age based target retirement mutual fund - because I didn't quite like the other funds they offer. Conversely the T-IRA has some better equities and funds including dividend paying stocks.
Any thoughts or advice?
The only issue is that for me to contribute to ROTH IRA via the backdoor method I have to sell all my T-IRA stuff, then roll it over into my existing 401k which is (currently) all invested in a age based target retirement mutual fund - because I didn't quite like the other funds they offer. Conversely the T-IRA has some better equities and funds including dividend paying stocks.
Any thoughts or advice?
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