OK, I'm still waffling here. I recently rolled a piddly little amount of money ($5500, give or take) into a conventional IRA from my former company's 401(K). Now I can't decide whether to go on and convert that into a Roth and take the tax hit this year (about $1700, give or take) and then continue to put in $2000 a year ... or just leave the traditional IRA alone and open a fresh new Roth with a new $2000 per year. The IRA is in an S&P 500 index fund. My current 401(k) contributions are at 10% of my salary, not quite maxed but as much as I want to do right now (and yes, I am getting my full employer match.) I know the myriad advantages of the Roth over the Trad IRA, but I just don't really want to take the tax hit. To me, that's real money (don't laugh, I used to be $12,000 in the hole to credit card companies, and crawled out of that hole with my bare fingernails.) I kind of suspect that $5500 is such a little pile that it doesn't matter too much what I do.
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