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Vanguard Roth IRA "upgrade"? and backdoor roth conversion

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  • Vanguard Roth IRA "upgrade"? and backdoor roth conversion

    I started a Roth IRA during residency in 2010. I have finally finished my training and opened up a traditional IRA earlier this week, with the plans of converting it to my existing Roth the next day. However, when I tried to do so, it looks like the funds are still unavailable and in talking to Vanguard it's b/c they changed platforms and I will need to either wait about a week or "upgrade" my Roth IRA to the new platform.

    Apparently the old platform only contains mutual funds where the updated one can have other investments.

    - Is there any issue with this upgrade (or should I just do it)?. I found mixed reviews on Bogleheads on an old 2014 thread. https://www.bogleheads.org/forum/viewtopic.php?t=143847

    - Or should I just wait a few more days and transfer it to my Roth afterwards?

    Thank you in advance!

  • #2
    This happened to me earlier this year when I did my backdoor Roth.  I just allowed them to 'upgrade' the account to the new version. It meant I had to wait an extra view days before doing the conversion, but that was the worst of it.  Everything was back to normal afterwards.  So just do it and don't worry about it would be my advice.

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    • #3
      For the most part just do it. There have been a few minor issues for some with complicated situations. I upgraded 8 accounts without issues. Probably better this way.
      Helping those who wear the white coat get a fair shake on Wall Street since 2011

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      • #4
        Great - thank you!

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