Question by gemadness: I have a Roth IRA with Vanguard, I want to switch my Roth to Janus?
I have a Roth IRA with Vanguard, I have a regular IRA with Janus. I want to stop contributing to the Vanguard fund, and convert my Janus IRA into a Roth IRA and continue contributing to that. How do I go about doing this?
Best answer:
Answer by Jerry
Contact Janus and tell them that you want to convert your regular IRA to a Roth. It should be a one page form and take all of 10 minutes. It’s simple and they’ve no doubt done thousands already. You will owe taxes on the converted amount as regular income.
You can leave the other account at Vanguard, which I’d recommend because Vanguard is a much better company overall. You can have multiple Roth accounts. If you really want to combine, wait until the Janus conversion is done so it will be a Roth-to-Roth transfer.
I don’t know how you are making your contributions. Just stop the flow to Vanguard and re-direct it to Janus.
Add your own answer in the comments!