29F in need of some advice.
I have a 401k from my previous employer of about $25k. 16k is Roth and 9k traditional.
I start my new job next week where I’ll be making $65k annually and recently learned the options I have of rolling it over to RothIRA or into my next employer 401k.
I was leaning towards rolling it over to my Roth IRA and converting the traditional portion ($9k) and paying the taxes on it now so it can all sit in the same account. I believe the taxes I’ll pay on will be around $1800.
This is the beginning of my career so I plan on making more as I progress. And once I start at the new company I plan on doing Roth 401k so this $9k will either sit in a rollover Roth account or….
Is this a good idea?
Any input is appreciated.