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re: Smart to roll 401k from previous job into new one?
Posted on 5/9/14 at 3:37 pm to okietiger
Posted on 5/9/14 at 3:37 pm to okietiger
quote:
Isn't there a cap on the amount you can put into an IRA per year or does this not qualify for that because you're rolling into from 1 retirement account to another?
It has a cap. I'm not telling you to not do the 401k. I'm just saying roll it into an IRA. You can money in different places you know.
2
Posted on 5/9/14 at 4:07 pm to Broke
Rollovers don't go against your IRA contributions. You just have to set up what is called a "Rollover IRA".
Generally it's best to do it to a rollover IRA, because most 401K plans have crappy investment options.
Generally it's best to do it to a rollover IRA, because most 401K plans have crappy investment options.
Posted on 5/9/14 at 7:17 pm to Broke
I'm in the same situation. Have a significant sum sitting in an old employer 401K.
I can you roll this into a say Vanguard IRA?
I have no idea about how to get this process going??
fwiw, I already have a roth w/ Vanguard.
I can you roll this into a say Vanguard IRA?
I have no idea about how to get this process going??
fwiw, I already have a roth w/ Vanguard.
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