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Switching jobs and 401k question
Posted on 4/17/15 at 8:21 am
Posted on 4/17/15 at 8:21 am
Hi, I'm switching jobs this week and I have about 6k in my 401k from my previous job. I read something about rolling over to a IRA or transferring the balance to my new company's 401k. Can somebody explain these options? I have no desire to withdraw any money from it. Which option is the best for me?
TIA!
TIA!
3
Posted on 4/17/15 at 8:47 am to 337tigergirl
do you have a roth IRA? if not, I'd roll that into a new roth IRA
and then start a new 401k with your new company
and then start a new 401k with your new company
Posted on 4/17/15 at 9:29 am to 337tigergirl
Rollover IRA
Best option imo.
Best option imo.
Posted on 4/17/15 at 2:21 pm to 337tigergirl
Because it's a relatively small amount, I would roll it over to the 401k. I wouldn't want to bother with another account, unless you were planning on making contributions to the new IRA. Those contributions might not be deductible depending on your income anyway.
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