How many retirement accounts do you have? So, you might have several 401(k) accounts from old employers, as well as an IRA, a Roth IRA, and maybe a SEP-IRA you set up to save income from gig work. So traditional IRAs can be merged with other traditional IRAs, but not with Roth IRAs. Alternatively, funds from an old workplace can be rolled into the appropriate IRA, with pre-tax savings going into a traditional IRA, and 401(k) Roth money going into a Roth IRA. If you don’t have a traditional IRA, you can do the backdoor Roth IRA at no tax cost.

Source: Forbes February 20, 2018 12:56 UTC