Currently working 2 jobs and have 2 401k accounts.
I am not hitting the tax limit for both but my question is what should I do?
I have my 401k from Company A, which has a 6% match and I am paying 6%
Company B has a $0.75/$1 match up to 4%.
The growth on Company B 401k is not great, but if I understand how 401k's work it will get better as time goes on.
So lets say at the end of the Year I have $6500 in my 401k account from Company B, I talked with an advisor who said I can roll over any 401k to my Roth IRA without a tax penalty. My Roth IRA has been sitting really doing nothing for about 6 years.
Should I take $6000 from my 401k from Company B and put it into my Roth IRA every year? I plan on investing in low risk dividend stocks.
Understanding that will leave me with $500 left over, but I think the max I can put into an Roth IRA every year is $6000
The following year, same time leaving $1000, so on.