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New trends in thought emerge at the speed of a social media post.
One of the most recent trends involves rolling your401(k)into aRoth IRA.
However, like any financial advice, theres no such thing as one-size-fits-all.
This isnt a move to make lightly.
There are a number of reasons why you shouldnt attempt it without consulting a financial expert.
In some cases, the added income might even push you into a higher tax bracket for the year.
Thats a lot of financial friction for a single money move, particularly if youre not prepared for it.
IRAs, including Roth IRAs, dont offer the same level of protection.
Rolling that money into a Roth IRA means you lose that option.
Be sure to understand the trade-offs before making the switch.
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