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401k When Leaving Job Question?
Posted on 2/10/13 at 4:04 pm
Posted on 2/10/13 at 4:04 pm
Can anyone inform me about some smart options for this situation?
My wife is leaving her job with a major company and will be out of work for a few months. She has a 401k worth roughly 25,000 as of now.
What should we do with the 401k while she is out of work for three months before starting a new job??
My wife is leaving her job with a major company and will be out of work for a few months. She has a 401k worth roughly 25,000 as of now.
What should we do with the 401k while she is out of work for three months before starting a new job??
1
Posted on 2/10/13 at 4:13 pm to ragacamps
Roll it over to an IRA or ROTH IRA. Just be aware that if you roll it to a ROTH you will be responsible for income taxes on the 25k. Googling "IRA rollover" should get you plenty of good information why/how to do this.
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