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As confused as I am about the retirement account types, it has come the time for me to deal with them.

I am quitting my job this month. I plan to roll my 401K (approx $30,000) over to IRA.

After this transaction is done, can I roll this amount into a Roth IRA account? I know that I might have to pay taxes up front (for the $30,000).

I also have a personal IRA already (worth about $15,000) -- would it be a good idea to leave this account alone or to roll it over to Roth IRA as well?

I am trying to figure out what is the best strategy for handling the 401k fund. Thanks!

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