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Message
Rolling over 401k
Posted on 10/28/14 at 3:38 pm
Posted on 10/28/14 at 3:38 pm
I have a 401k from a previous job that was invested in a pretty aggressive fund (~$40k). The company is now folding so I have to decide how I want to invest it now.
I know timing the market is generally a bad idea but I'd like to pull the investment in the next couple days, any advice on whether I should pull it today or wait until Friday? Also any advice on rolling into my current employer's 401k vs rolling into IRA?
I know timing the market is generally a bad idea but I'd like to pull the investment in the next couple days, any advice on whether I should pull it today or wait until Friday? Also any advice on rolling into my current employer's 401k vs rolling into IRA?
3
Posted on 10/28/14 at 3:53 pm to camerad7
When to pull out won't make a difference... In this discussion anyway.
As far as reinvesting, I'd DCA over the course of about 12 months, personally.
As far as reinvesting, I'd DCA over the course of about 12 months, personally.
Posted on 10/29/14 at 8:48 am to camerad7
Do you already have an IRA? You will have more options investing in an IRA than a companies 401k.
Also, if you are forced to sell the funds you currently own, you should consdier DCA as the other poster mentioned.
Also, if you are forced to sell the funds you currently own, you should consdier DCA as the other poster mentioned.
Posted on 10/29/14 at 10:13 am to Oenophile Brah
Thanks, can you explain what DCA is? I'm not familiar with the term
Posted on 10/29/14 at 10:55 am to camerad7
quote:
Thanks, can you explain what DCA is?
Just an abbreviation for Dollar Cost Averaging.
This will give you a basic understanding.
DCA - explained
It's just a buying strategy to reduce the risk of buying all at the wrong time(at highs).
Posted on 10/29/14 at 1:14 pm to Oenophile Brah
Thanks, yea that makes a lot of sense
Posted on 10/29/14 at 3:35 pm to camerad7
Pulling your money out in a 401k between a few days is not going to make a huge difference over the long term.
Better off putting it in to an IRA so you won't be stuck with a 401ks limited options.
Better off putting it in to an IRA so you won't be stuck with a 401ks limited options.
This post was edited on 10/29/14 at 3:37 pm
Posted on 10/29/14 at 6:43 pm to Retrograde
Roth or traditional IRA?
Posted on 10/29/14 at 7:15 pm to Retrograde
Read about back door Roth conversions and bankruptcy/lawsuit protection before you roll into a regular IRA.
Posted on 10/29/14 at 7:20 pm to camerad7
Was it a Roth 401k before?
If not you'll have to pay taxes to convert to a Roth IRA.
Don't take this the wrong way, but here's a plethora of information online. Not saying don't ask questions, but it sounds like you could benifit from educating yourself a little bit.
If not you'll have to pay taxes to convert to a Roth IRA.
Don't take this the wrong way, but here's a plethora of information online. Not saying don't ask questions, but it sounds like you could benifit from educating yourself a little bit.
Posted on 10/29/14 at 9:09 pm to TigerDeBaiter
Thanks, I understand the basics, enough to be dangerous at least. It was a traditional tax deferred 401k. I was initially leaning toward rolling into a traditional IRA but wanted to get some personal opinions on wwtdd.
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