AboutBruce Julien Expertise I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.
Experience I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.
Education/Credentials BA in Accounting, University of Maryland 1990
Question Our company dropped the match to our 401K savings plan. I just turned 68, and am still working. I'd like to retire next year so I'm wondering if I should move the 401K (about $54K), pay the taxes on it and put it into a Roth IRA (which I currently have about $3K).
Answer Converting to a Roth is an irrelevant issue to the point of the dropped match.
If you prefer the tax advantage of the 401k then continue to contribute.
If you like the idea of tax free money later then put your money into a Roth.
You can't do anything with the 401k balance until you retire and then converting the balance of the 401k is a longer more intricate issue. Would you have time to reap the benefits of a long time of tax free monies vs. the high cost of the conversion. Most people back out of it, especially if they are going to have to draw on the money soon anyway.
Just make sure you continue to save Andy, match or not
