401k Rollover Options: Rollover to IRA, Roth IRA, New Employer, or Leave It?
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- เผยแพร่เมื่อ 30 มิ.ย. 2024
- 401k Rollover Options: Rollover to IRA, Roth IRA, New Employer, or Leave It?
This video will cover the options available to you with your 401k when you change jobs or retire. We'll walk through each option and give you some pros and cons to consider. You can leave the 401k in your old plan, roll it over to a Traditional IRA, Roth IRA, or to your new employer's 401k. We'll talk about how this strategy might help you if you're looking to do a backdoor Roth conversion.
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🕒 TIMESTAMPS 🕒
00:00 - Intro
00:40 - 5 rollover options
01:58 - #1-Keep the 401k in the old plan
04:37 - #2-Roll over into Traditional IRA
08:00 - #3-Roll over into Roth IRA
09:45 - #4-Roll over into new 401k
11:35 - #5-Cash out your 401k
Disclosure
The information contained in this communication is provided for general informational purposes only, and should not be construed as investment or tax advice. All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Wealthfront Advisers and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisors to discuss tax-related matters specific to their situation. Investment advisory services are provided by Wealthfront Advisers LLC, an SEC-registered investment adviser, and brokerage products and services are provided by Wealthfront Brokerage LLC, Member FINRA/SIPC.
Sources
www.irs.gov/pub/irs-tege/roll...
www.nerdwallet.com/article/in...
www.investopedia.com/articles...
www.bankrate.com/retirement/4...
Thank you for the Info! You got a sub!
Great content
Thanks!
How much can I roll over from my employer traditional ira to my personal roth ira? Thanks
I rolled-over my pre tax 401k when i left my job to roth IRA (just a mistake happened due to a lack of my knowledge and miscommunication with Vanguard). Now my roth IRA has a big amount of:( and Vanguard couldnt help convert it back. What should i do? Can you please advise? What you would do? Thank you in advance!
You explained this very well. from: wtf is everyone talking about lol.
From which you can choose
something that isn't clicking for me - I make more than the IRA limit so I do the backdoor Roth situation. Sounds like rolling over into my traditional IRA is not a great idea from this video due to Pro-Rata. Is that right?
2nd question - How am I able to roll over $35,000 into a IRA when the limit is 7k?
can I just keep the rolled over IRA separate from my current 401k? This way I have multiple accounts
Hey Tony. Any choices for me? I'm leaving my Walmart job for a MUCH better paying job. I always wanted a ROTH IRA but I currently have an outstanding 401K loan. Any options? I can't afford to pay off the whole loan before I switch jobs. I thought I could work one full day a week in pathetic hopes that Walmart/Meril Lynch won't pay back my loan by butchering my 401K "vested" balance and kill me with a taxable event. What can I do to avoid this? Any thoughts? I don't think Merril Lynch will let me still make paycheck bi weekly payments on my loan, like I do now as a full time Walmart employee. Help!
Unfortunately, that depends on the company plan so you'll need to reach out to them directly.
You said, "Stop what you're doing". Weird prompt. I closed your video.