Hi all,
I've got a rollover IRA at Vanguard whose funds came from rolling over the 401k's from two different previous employers. The total balance in the rollover IRA right now is about $4,500, which is about 32% less than the amount of money that was rolled over into it (due to the facts that (a) I left the money sitting in a money market account for most of the time since I rolled it over, and (b) the market recently crashed).
I try to keep most of my retirement savings in Roth IRAs, since I expect (hope? :-) that my tax bracket will be higher during retirement than it is now. It seems to me that given the recent drop in the stock market and the corresponding drop in the value of the rollover IRA, now would be a good time to convert the money in this IRA into my Roth IRA and take the tax hit.
Any thoughts?
Thanks,
Jonathan Kamens