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re: Switching jobs and 401k question
Posted on 4/17/15 at 9:41 am to 337tigergirl
Posted on 4/17/15 at 9:41 am to 337tigergirl
quote:
I'm just worried about not being able to hit the limit (5500) per year. I have a lot of bills and student loans.
Even if you can't hit the limit you'll still benefit from whatever money you are able to put in.
I'd assumed you'd want to roll it over to a regular IRA so you don't have to pay taxes on the money right now.
Don't roll it over to your new company's 401k.. 401k's are extremely restrictive relative to IRAs and there is no benefit in rolling it over to your new company's 401k
This post was edited on 4/17/15 at 9:43 am
1
Posted on 4/17/15 at 10:01 am to yellowhammer2098
quote:
there is no benefit in rolling it over to your new company's 401k
Aren't costs/fees sometimes lower in some 401ks than in IRAs?
I may have misunderstood that somewhere but if it's true, that would be a benefit
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