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Message
re: Various Financial Questions
Posted on 1/3/13 at 10:04 am to Broke
Posted on 1/3/13 at 10:04 am to Broke
quote:
You are going to owe tax on that money if you roll it into a roth. If you roll it into a traditional IRA you won't pay tax on it. It will be deferred.
And the only difference between the 2 is pre or post tax?
Also, I've read that I would need to make sure that the brokerage that is accepting the 401k carries the same investments, so they can just accept the "shares" that I own in my portfolio?
1
Posted on 1/3/13 at 10:13 am to Lsut81
quote:
Also, I've read that I would need to make sure that the brokerage that is accepting the 401k carries the same investments, so they can just accept the "shares" that I own in my portfolio?
You're going to cash out of your existing fund and they will transfer the money to the new fund, which will have its own investment options. When you open the new account you will specify the allocation of incoming monies among the investment options.
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