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Message
re: Leaving a Company
Posted on 4/14/14 at 10:10 pm to Tiger4Ever
Posted on 4/14/14 at 10:10 pm to Tiger4Ever
This^
Open a traditional IRA at a Merrill, Lynch-ish brokerage house. The right one will be thrilled to see you at 26. Ask around, it doesn't have to be local. You have to have the funds from your present 401k go directly from the present fund's administrator to the new IRA or the IRS deems it as taxable income for 2014, and you do not want that to happen.
Consult a tax or investment professional, glad to hear you are on the right track as to solvency. Ditto on the giving two weeks' notice, not burning any bridges advice. And good luck at your new employ.
Open a traditional IRA at a Merrill, Lynch-ish brokerage house. The right one will be thrilled to see you at 26. Ask around, it doesn't have to be local. You have to have the funds from your present 401k go directly from the present fund's administrator to the new IRA or the IRS deems it as taxable income for 2014, and you do not want that to happen.
Consult a tax or investment professional, glad to hear you are on the right track as to solvency. Ditto on the giving two weeks' notice, not burning any bridges advice. And good luck at your new employ.
2
Posted on 4/14/14 at 10:38 pm to soccerfüt
I just did this. Once you pick a company to use walk in and say I have this 401k I want to transfer to a traditional IRA and they will walk it through for you. They will call the company and let you handle the business right there with them there to answer any questions along the way. Makes it easier.
Posted on 4/15/14 at 12:26 am to soccerfüt
Thanks all!
I hate managing multiple different brokers and websites so I might just open another account with Vanguard as this is where all my investments and my Roth IRA are, but I like everyone's thoughts on having both a traditional AND a Roth IRA.
Also, I'm definitely not going to burn any bridges here. I've actually already talked to my boss about it and he's asked me to stay on board for the next month and a half to try and make the transition as smooth as possible. I'm not leaving because I dislike the company. I like it quite a bit, but my parents are too far away and they're getting old. I'm definitely keeping things as cordial as possible in case I need to come back later!
Thanks again!
I hate managing multiple different brokers and websites so I might just open another account with Vanguard as this is where all my investments and my Roth IRA are, but I like everyone's thoughts on having both a traditional AND a Roth IRA.
Also, I'm definitely not going to burn any bridges here. I've actually already talked to my boss about it and he's asked me to stay on board for the next month and a half to try and make the transition as smooth as possible. I'm not leaving because I dislike the company. I like it quite a bit, but my parents are too far away and they're getting old. I'm definitely keeping things as cordial as possible in case I need to come back later!
Thanks again!
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