No. of Recommendations: 0
Well, if you look in Publication 590 from the IRS, , there are much lower limits for the deductibility of that Traditional IRA if you are covered where you work(This is paraphrasing they use I think employer-sponsored plan) and so you don't get that tax benefit now and later you will pay taxes on the gains made within that Traditional(Did you realize this I wonder?). The other ideas are to convert the old Traditional IRA to a Roth or move it into the new employer's 401k if there is a good option there(Some 401ks can get into institutional funds that make them slightly better then retail funds, eg compare VINIX to VFINX for the S & P 500 index fund case).

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.