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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 78664  
Subject: Re: Rollover Existing IRA? Date: 1/14/1998 6:04 PM
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Greetings, Foolomon, and welcome.

<<Should I rollover my existing IRA into this new IRA account or should I withdraw the money, take the tax hit, and invest it in exactly the same way but not in an IRA account?

The advantage of the latter is liquidity - I can cash it in at any time. However, I pay the penalty (literally). It would seem that I should roll-it-over, but I wanted the opinions of everyone here first.>>

Taxpro gave you a great answer. I also see no reason for you to cash in the accounts and be hit with the taxes and penalty. And you may be better off in a Roth, but that ain't necessarily so. It takes careful analysis to see if you will. Why not visit http://www.rothira.com and read some of the excellent articles available there on Roth IRA conversions? You may find them of use, and they'll definitely give you something to think about before you make that leap.

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