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Investing/Strategies / Retirement Investing
|Subject: Re: IRA Contributions/Conversion||Date: 3/31/2000 10:40 AM|
|Author: SactoFool||Number: 20819 of 76621|
I can completely eliminate my 401(k) contributions at my present job and that would just about cover the difference (but not quite, since tax would now be withheld from that money), but that seems rather foolish (small "f"). If I can continue making contributions to the IRA as is, then I'd just as soon do that.
Okay. I would leave your 401(k) largely alone. It represents an additional tax defered investment in your future and you enrolled in it to take advantage of that along with any company match that might be offered.
I would seriously look at your budget, estimate what you CAN afford, and convert only enough of your current IRA to a Roth for the taxes you can afford. Next year you can convert another portion, and so on until you're done.
If you DO decide to stop contributions to your 401(k) to accelerate the rate of your Roth conversion, I would encourage you to still defer enough to receive the maximum company match.
I'm no investment advisor. I'm just that....
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