Hi all,
My former employer suddenly moved my 401k from Vanguard to Inspira Financial, and I'm looking for advice. For reference, I'm in the 24% tax bracket this year and I am nowhere near the top of my bracket.
Previously:
- 40k was in Vanguard (Traditional 401k)
Now:
- 30k is now in Inspira Financial (Rollover Traditional IRA)
- 10k is now in Inspira Financial (Rollover Roth IRA)
Is this rollover split ideal? If so, I would like to move these back to Vanguard, as I have a personal Roth IRA and a personal Traditional IRA opened in there. Or should I reverse the Roth rollover and move it all into Traditional? I am not doing any backdoor roth movements anytime soon, for reference.
My current employer uses Schwab for 401k but I prefer moving the Inspira Financial rollovers to Vanguard again.
Thank you!
Should I reverse the forced 401k rollover by my employer?
byu/VariousPomegranate inpersonalfinance
Posted by VariousPomegranate
1 Comment
> Or should I reverse the Roth rollover and move it all into Traditional
You can’t. Once Roth, only Roth.
You can roll the IRAs over to your existing IRAs. You can only ever convert trad to Roth, not the other way around.
(A reverse rollover refers to moving a trad Ira to a trad 401k)