401k advice!!! | TigerDroppings.com

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Pritcharddane
LSU Fan
El Dorado Ar
Member since Aug 2009
121 posts

401k advice!!!


I'm changing jobs and have a little over 10k in my current 401k. I've heard of rolling it over into an IRA but would like some thoughts and advice on what I should do? I'm kinda wanting to look into investing also. TIA!!!






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BARNEYSTINSON
LSU Fan
Member since Oct 2011
193 posts
 Online 

re: 401k advice!!!


I recommend to all new clients that they should roll over the funds to an IRA. This option will allow you to go any to any individual equity, bond, mutual fund as well as alternatives that more than likely will not be offered in the new companies 401k.





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Pritcharddane
LSU Fan
El Dorado Ar
Member since Aug 2009
121 posts

re: 401k advice!!!


Thanks. What is the best IRA to use?





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BARNEYSTINSON
LSU Fan
Member since Oct 2011
193 posts
 Online 

re: 401k advice!!!


That's a difficult question without knowing your entire financial profile. It is probably not a roth 401k, so the simplest would be going to a traditional IRA. You can convert to a roth IRA, but that will trigger a current taxable event but provide tax advantages down the road. Hope this helps.





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Tmacelroy12
LSU Fan
Houston
Member since Aug 2012
5489 posts

re: 401k advice!!!


If you are in a low tax bracket and expect to pay more taxes down the road, go with the Roth... otherwise regular IRA.





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tirebiter
LSU Fan
ATL
Member since Oct 2006
5128 posts

re: 401k advice!!!


Just an FYI, if you are in a good 401k and leave the funds in it you currently would have the option to start withdrawing funds at age 55 versus 59.5 in an IRA without incurring the 10% penalty, or have to take the 72 (t) option. If you are planning early retirement that may make a difference to you. Contrary to popular belief some 401k's actually have low cost, diverse investment options and brokerage capabilities. It's worth obtaining your 401k plan info to make an informed decision.





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TigerDeBaiter
LSU Fan
Member since Dec 2010
2493 posts
 Online 

re: 401k advice!!!


I would roll it over!!!

But that's just me!!!






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Pritcharddane
LSU Fan
El Dorado Ar
Member since Aug 2009
121 posts

re: 401k advice!!!


Thank you guys for all of your info it's been a big help. Could you guys suggest some companies to use for my IRA?





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Venelar
LSU Fan
The AP
Member since Oct 2010
307 posts

re: 401k advice!!!


Vanguard





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LSUcam
LSU Fan
Destin FL
Member since Dec 2011
381 posts

re: 401k advice!!!


Merrill Edge with Merrill Lynch!





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