What to Do With Your Old 401K | Easy Rollover Strategies

Did you recently find a 401K from your old employer? Should you roll it over to your IRA or your current 401K? Let's go over some strategies.
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⏰ Table of Contents ⏰
0:00 401K Rollover
3:23 401K to Roth Conversion
5:05 Thrift Savings Plan Combat Zone
8:15 What to consider for 401K Rollover
#FIREPsyChat #FinancialIndependence #Rollover
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Disclaimer: I am not a financial advisor. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary.
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[@ajcab819]

Thanks for the advice!

[@patriotsforegolf9859]

I like this guy, clear and concise, THANK YOU for addressing Military/Federal Programs, no one Ive researched has done it. Also, one point to make - it is more beneficial to rollover the work plan to an IRA due to the HIGH fees the institution charges in the work programs. Case in point, I just looked at my wife's yesterday and she gained $16 of Dividends in a month and was charged $14 for fees in same month, so total returns were lower compared to if the funds were in an IRA, obviously it depends on brokerage and type of fund but hers was Vanguard Total Stock Market and 2 others, had low expense ratios ... Thanks

[@esbiermann62]

I did not know about the 1 rollover year rule. I have two old employer 401ks that I just put "in cash" I think one in Fidelity, one Schwab , with these "cash" funds waiting for my decision on if I should choose a trad and/or Roth and also what allocations and funds. I also have a new employer 401K with a trad & Roth options. I am 62. Am I stuck with just being able to finish out ajust one rollover in either Fidelity or Schwab (which has the largest amount) and then what do I do with the other remaining "waiting in cash" fund - I am forced to rollover to my employers only??
Or is it going to stay in a cash fund without completing the rollover? Did I make. HUGE mistake trying to take care of two old 401Ks finally this year?

[@sunnykwong4619]

Could you do a video comparing withdrawal guidelines for various retirement accounts, including mandatory withdrawal age and amount. Thanks!

[@FIREPsyChat]

I will work on that! I want to wait till all of the 2024 numbers get updated by the IRS

[@angiehh516]

Is it smarter for me to roll my 300k from my prior 401k into the VA or should I go with something like Fidelity or Vanguard? If I do put it in the VA…I realize it would be separate from my new Tsp Roth that I just started last year. I’m 45 years old. Quite a few more years to work.

[@anitahong5896]

Where to check whether I have any old 401k?

[@FIREPsyChat]

There are several databases you can use. Before you do that you can always contact your old employer. I know people have had luck with National Registry of Unclaimed Retirement Benefits and Department of Labor's abandoned plan database.

[@christiancastellanos4846]

Can I rollover a 401k from the private sector to a federal TSP?

[@FIREPsyChat]

Yes you can!