Option Traders & Investing

I just recently got laid off and haven’t landed another job yet. I need to move my Vanguard 401k $ to an IRA account. Torn between traditional vs Roth IRA. Can someone suggest what’s best?Pros & cons?

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Assuming 401k and not Roth 401k: Traditional IRA - straight rollover, no tax implications. Roth IRA - pickup the balance in income, pay taxes now, and remaining amount can grow tax free. The 401k contribution will be eligible for tax/penalty free early withdrawal since you’ve paid taxes on it. Don’t recommend early withdrawal unless you have substantial need for cash. Also assuming you made no post tax contributions to prior 401k

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If you are going to have less income this year, and be in lower tax brackets, maybe a good time to convert to Roth. Item to consider

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Cont.. Also should I continue with Vanguard or choose a different platform?

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