{ "media_type": "text", "post_content": "First Job change in the US and looking for advice. Moved from PwC to Citi. Wondering if I should roll over my 401k to Citi’s 401k or my own TD Ameritrade traditional IRA? What do folks generally do and why? I would expect company sponsored accounts to have lower fee but limited investment options, but please correct me if I’m wrong. Thank you!", "post_id": "618fdc2bb86cd4002535375a", "reply_count": 30, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

First Job change in the US and looking for advice. Moved from PwC to Citi. Wondering if I should roll over my 401k to Citi’s 401k or my own TD Ameritrade traditional IRA? What do folks generally do and why? I would expect company sponsored accounts to have lower fee but limited investment options, but please correct me if I’m wrong. Thank you!

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Do you contribute to a Roth IRA? If so do you need to use the backdoor method or expect to need it? If yes, don’t roll it to a traditional IRA. Assuming CITI has a good 401k with decent options, I would roll it there. If not, you may be able to leave it at PwC also.

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Well if they don’t have a mega backdoor, that does not impact this decision. That option went away when you left PwC. Look at the investment options and see if they have reasonable variety and expense.

Companies can change investment options on their 401k anytime. Unless your 401k offers a brokerage option, I would generally recommend rolling to an IRA. Plenty of no/low cost brokers and no/low cost mutual funds to choose from

Thanks both for this discussion. Really helped

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Roll it to 401k. Just easier overall from a cost basis perspective (issue with trad IRA)

Got it. Completely agree and said the same thing.

Why don’t you roll over your PwC 401K into a Roth account? Pay the taxes now when the rate is lower rather than move it to a traditional IRA/Citi 401K and pay taxes later.

Why do you assume the tax rate is lower now than when they are retired and withdrawing the funds?

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