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What to do with 401k and retirement if I can't transfer
Posted on 10/2/17 at 8:25 pm
Posted on 10/2/17 at 8:25 pm
So we are selling our house and we'll get about 40k from that. We are moving states and due to my profession I can't roll over my 401k and retirement (law enforcement) which is like 60k.
Do I use that for house down payment or put retirement into an IRA or something?
Do I use that for house down payment or put retirement into an IRA or something?
3
Posted on 10/2/17 at 8:26 pm to Tigeralltheway
If you can put it in an Ira do that
Posted on 10/2/17 at 9:38 pm to Tigeralltheway
The house thing has me confused. Are you asking about the 40k proceeds or your 60k retirement?
Rolling 401k into an IRA is certainly a good option.
Rolling 401k into an IRA is certainly a good option.
Posted on 10/2/17 at 10:06 pm to LSUtigerME
Mainly asking about the retirement
Posted on 10/3/17 at 5:39 am to LSUtigerME
quote:
your 60k retirement
I had about that much in a 401k when I changed jobs in 2006. Rolled it into a IRA and even through the recession in 2008 it's turned into a very nice nest egg. I'm obviously biased, but stashing it into a IRA is how I would go. That nest egg, combined with my current 401k, a Roth, and a HSA have allowed significant diversification as I plow through daily life and dream of retirement.
Posted on 10/3/17 at 6:42 am to Tigeralltheway
Roll into an IRA. Are you buying a new house? Did you decide on what area to live and do you have any job leads yet? I live in south Arlington and you will enjoy the DFW area.
Posted on 10/3/17 at 8:10 am to LSUSUPERSTAR
Well debating, we just built a new house two years ago down here so we kinda wanna go into something rather new. We really want to stay in the Frisco area, my wife will be working in Addison. As far as job leads....not really. Police jobs are really hard to get in Texas apparently. I have over 10 years experience, the last 6 years in a specialized division. It may take me just being there to get a job. It's a little scary moving with no job, fortunately my wife gets a about a 40k bump to help.
Posted on 10/3/17 at 9:48 pm to Tigeralltheway
Learn to Self Direct into a Self-Directed IRA
Posted on 10/4/17 at 12:17 pm to Tigeralltheway
It's kind of far from the Frisco area but I know that Keller, North Richland Hills and Watauga PD are all hiring right now.
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