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Message
re: Old 401k - what to do with it?
Posted on 1/21/13 at 2:14 pm to Vols&Shaft83
Posted on 1/21/13 at 2:14 pm to Vols&Shaft83
quote:
You can pull your contributions early without penalty or taxes because you've already paid taxes on that money, you cannot pull gains early without penalty
Ok, gotcha
What are your feelings on rolling an old employer 401k worth about $26k over?
IRA or Roth?
1
Posted on 1/21/13 at 2:25 pm to Lsut81
quote:
What are your feelings on rolling an old employer 401k worth about $26k over?
IRA or Roth?
Posted earlier by Foshizzle
quote:
Going from a 401 to a Roth isn't actually a rollover, the technical term is "recharacterization" and you have to pay tax on the amount being recharacterized. You can rollover directly to a traditional IRA without paying taxes though, but of course you can't pull out the contribution early for those.
Probably better to just move to a traditional ira, and start a Roth Separately.
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