Hello all,
Currently in a residency program offering 403(b). It is my understanding that after residency it is recommended to rollover this 403(b) to a traditional IRA as this offers more options. But it is also my understanding is that you must have a traditional IRA balance of $0 before making a $5500 traditional IRA contribution and then converting it to a backdoor Roth.
If I want to take advantage of the backdoor Roth, after residency shouldn't I just leave my 403(b) funds as is or roll it over to my future employer 401(k) plan, instead of rolling it over to a traditional IRA?
Currently in a residency program offering 403(b). It is my understanding that after residency it is recommended to rollover this 403(b) to a traditional IRA as this offers more options. But it is also my understanding is that you must have a traditional IRA balance of $0 before making a $5500 traditional IRA contribution and then converting it to a backdoor Roth.
If I want to take advantage of the backdoor Roth, after residency shouldn't I just leave my 403(b) funds as is or roll it over to my future employer 401(k) plan, instead of rolling it over to a traditional IRA?
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