What should I do with my 401k

[lgbgbt88]

Hello,

I'm a Canadian working in the US (on TN, no GC). I recently switched employer and wondering what should I do with my old 401k. Some financial advisors told me to convert to Roth or other vehicles but I'm not sure if that's wise for me. Maybe good for US citizens but may not work for me. And I also don't want to leave the money hanging. Just wanted to seek some advise on what to do to best use those funds.

Thanks
:)

[lgbgbt88]

Up. Wanted to see if it makes sense for me to convert to traditional IRA or Roth IRA

[nelsona]

Please don't bump.

Since you are still in US, it makes sense to keep your funds at the current account. You could transfer them to your new 401(K) if you wish.
Converting to Roth is a taxable event, so you would be adding this transfer to your current employment income, so that might be a big hit at this time. If you can withstand the hit, it would be good to convert to Roth, and avoid all future tax. You would then want to fund your new 401(k) as Roth401(k) as much as possible.