Forgive my ignorance on this topic, for I, like Jon Snow, know nothing. This topic follows hours of researching around via Google, AirWarriors topics, calling the NAS Pensacola FFSC and talking to an investment firm.
The backstory: At my last job before joining the Navy, I was able to save up about $13K in a 401(k). While I'm waiting in A-Pool for IFS to start, I figured I'd try and get some retirement planning out of the way and move that 401(k) to a better option. Based on my research here and elsewhere, the common recommendation seems to be to roll it over into a Roth IRA, which would be my first priority over other options like the Thrift Savings Plan.
That said, I don't know how to get there from Point A. I narrowed it down to Vanguard and Fidelity, and after calling Vanguard this morning, I was made aware of how much I don't know about this stuff. For example, I learned that adding the $13K from the 401(k) to my salary would bump me to the next tax bracket, and that there are other ways to go about rolling over funds that may help deal with that; to that end, the representative recommended I get in touch with an accountant. I've always just done my own taxes with TurboTax because it was simple enough for a single student to do.
The question: Before I begin the research into how I go about finding/choosing/hiring an accountant, is this the kind of stuff the Navy can help me plan via a Command Financial Specialist, or is this the kind of stuff I should be taking care of on my own via an accountant?
The backstory: At my last job before joining the Navy, I was able to save up about $13K in a 401(k). While I'm waiting in A-Pool for IFS to start, I figured I'd try and get some retirement planning out of the way and move that 401(k) to a better option. Based on my research here and elsewhere, the common recommendation seems to be to roll it over into a Roth IRA, which would be my first priority over other options like the Thrift Savings Plan.
That said, I don't know how to get there from Point A. I narrowed it down to Vanguard and Fidelity, and after calling Vanguard this morning, I was made aware of how much I don't know about this stuff. For example, I learned that adding the $13K from the 401(k) to my salary would bump me to the next tax bracket, and that there are other ways to go about rolling over funds that may help deal with that; to that end, the representative recommended I get in touch with an accountant. I've always just done my own taxes with TurboTax because it was simple enough for a single student to do.
The question: Before I begin the research into how I go about finding/choosing/hiring an accountant, is this the kind of stuff the Navy can help me plan via a Command Financial Specialist, or is this the kind of stuff I should be taking care of on my own via an accountant?