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Where does the Goldman Sachs money go??

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Wayne.B

Wayne.B is offline

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Where does the Goldman Sachs money go??

On Mon, 26 Apr 2010 17:22:00 -0400, wrote:

I am not really interested in a regular IRA. I want to pay my taxes
now and own the money. The Roth really looks the most attractive if I
keep it in a fund..

Although I understand your concerns for the future, it is generally
not a good idea to pull money out of a 401 unless you roll it over to
an IRA.

There are at least two good reasons for that advice:

1. In a 401 or IRA you can adjust your portfolio at any time without
regard for the tax consequences. This is a huge advantage when
considering whether or not to lighten up on equities in the face of a
major market decline.

2. Your gains compound forward without a tax hit. I'm sure you're
aware of that, but do the math sometime and get an appreciation for
how much difference it makes over time.

It is true that a Roth IRA confers the same advantages but, you have
to be eligible for a Roth IRA, and you will take a one-time tax hit on
the conversion. It's important to remember that the tax status of a
Roth IRA could change in the future also.

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