text: can i transfer some of my 401k money to my roth ira? i'm currently employed and i contribute to 401k at my job. i also have a roth ira account. i need to know if it's okay to transfer some of the money i have in the 401k to my roth ira. that last comment is not right, a roth is the best thing going today! as long as you use a broker to make the transfer there will be no penalty, only tax due on the amount you remove. as long as you don't take the money out in your name your safe. also yyou are limited to the amount you can put in the roth.by the way, try www.daveramsey.com.  a world of info that will help you retire with a pocket full of money.