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Author: fibus Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: Roth, 401K, and Rollover IRA Date: 3/7/2001 3:09 PM
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Hi Fools.
Got a straightforward question, hopefully with a straightforward answer.
I have a Roth IRA, and I am contributing to my 401K to the max. I have a 401K account with a previous employer, and I plan on rolling it to an IRA. Is this legit--that is, to have a Roth, and then rollover my 401K to an new IRA account?
My only other option is to rollover my old 401K to my present 401K, but I'd rather not. Are there any other options?

thanks in advance.
fibus
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Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28314 of 75335
Subject: Re: Roth, 401K, and Rollover IRA Date: 3/7/2001 3:16 PM
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Everything you said is correct. Note that you can't rollover a 401(k) directly to a Roth. You can only convert it to a "traditional" or "conduit" IRA -- but nothing stops you from having multiple accounts.

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