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Message
re: Leaving a Company
Posted on 4/14/14 at 8:52 pm to FootballNostradamus
Posted on 4/14/14 at 8:52 pm to FootballNostradamus
quote:
If I roll it straight over it won't get taxed, right? Is there a max I can roll-over into an IRA? I've been contributing to this 401K for a while, it's pretty substantial.
Make sure you do a traditional (not Roth) IRA and the rollover won't be taxed as income.
It's pretty straight forward. Just make sure to take down contact info for your 401k plan administrator, set up your IRA with someone like Vanguard and contact the 401k administrator to move your money after you peace out.
This post was edited on 4/14/14 at 8:54 pm
1
Posted on 4/14/14 at 9:20 pm to ZereauxSum
quote:
Make sure you do a traditional (not Roth) IRA and the rollover won't be taxed as income.
It's pretty straight forward. Just make sure to take down contact info for your 401k plan administrator, set up your IRA with someone like Vanguard and contact the 401k administrator to move your money after you peace out.
Thanks! I already have an IRA, but it's a Roth IRA. Would it make sense to start a traditional IRA with this fund or declare it, tax it, and put it into the Roth IRA?
I'm 26 FWIW.
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