Got a new job and their 401K is with TransAmerica. Previous employer uses CharlesSchwab and I have a decent $$ in my 401k with CS. TransAmerica has bad reviews. I am planning to take a loan in the future. What are the pros and cons of rolling over my 401K?

like
Posting as :
works at
You are currently posting as works at

You should be able to leave money in your CS if your balance is over $5000. Most plans are designed to leave your money there. As someone else suggested you may be able to move to IRA but I think 401k has better protections against bankruptcy + you can take a loan from a 401k and not an IRA.

Be careful rolling money from a 401k to an IRA and consult with a CPA / your financial advisor (and not random internet strangers that give flippant advice)

like

I have transamerica 401k and hate it. Don’t roll it over.

like

Don’t, transamerica has higher feees. You’re better off putting into your ira

See if you can leave it in the Charles schwab if you wanna stay there. I was able to keep my old 401k if I met the threshold. If I didn't I had to roll it into an IRA which I did within the same institution.

Can I apply a loan from the old 401k?

Leave your 401k there assuming the fees are not too bad.

I disagree with those saying to move it to a personal IRA. That will complicate a potential backdoor Roth (look up pro rata rule). You can move any Roth portion to a Roth IRA though.

Don’t take a loan

Related Posts

Does anyone else think we should start investing in more light rail systems to cover some of the distribution problems we're having? I think it might be a good idea. Anyone have any thoughts about this?

like

Hey guys,

I recently joined tcs and they told me to work at the Qualcomm office.

How will Qualcomm. What are benefits to the employee who comes from other companies to work at Qualcomm

Hi, just wondering how much maternity leave Janssen and Merk offer? GSK will be offering 18 weeks starting in 2023, wondering how other companies in the area compare. Also curious if there is a minimum amount of time you need to work before the benefits kick in?

like

Can someone explain the LTA policy? What happens if I don't claim any travel bills? Can I claim it as a taxable component monthly?

like

Anyone else pretty terrible at managing their own finances? I have an embarrassingly little amount of cash saved.

like

I’m a healthcare admin professional looking to transition into a new role & I’ve just updated my resume but I’m afraid it’s too long. I’ve even taken irrelevant experience out & it’s still about 3 pages long. How do I shorten 10 years of experience to ONE PAGE???? Helpppp lol

like

What will be in hand for the below after-tax deduction?

Post Photo
like

Hi,can someone help on the monthly cash in hand after all deductions?

Post Photo
like

Hey Guys, Hope you all are doing great. Can someone let me know about the work culture, is Saturday working, are there any shifts and benefits of HSBC Electronic data processing india, ecospace, Bangalore?

Has anyone dealt with submitting domestic adoption costs for reimbursement? Do we just email them our receipts as the expense has occurred. Is there forms to fill out as well? I just started the process and made my first payment and want to know how to submit.

Does anyone know of any part time positions in healthcare? Wanted to get into medical sales. I have a ton of time outside of work so I figured it could be a good opportunity to make some extra cha-ching

like

Anyone here trade options in addition to working full-time? I am curious to hear about how much additional income you’re able to pull in, big lessons learned for a beginner, where to start learning/practicing, etc.

like

Does anybody else think this $2 trillion bill is ridiculous? I understand the why and benefits etc, but just like at a certain point isn’t this all just funny money? Playin w/ money no one really has?

like

Hello fishes, will be really insightful to understand cost of living in Doha for a single person. Rent + food and other expenses manageable at 8-10k QAR/ month?

like

Which of the Big 4 is best for a new MPH grad looking for their first time role healthcare related, esp project management focused? (Assume east coast)

like

Fishes,
Im working in Ey india,
Do i need to declare personal loan anywhere is it required?

like

Looking to buy Rolex OP. Thoughts on new vs used? Is the additional ~2k worth it for new?

like

Recent graduate with Bachelors of Health Science in Workplace Health and Wellness. Currently working in a Healthcare job but as a client service coordinator. Really would like to get a job in my field. If anyone has suggestions/recommendations please share. Within GTA would be great if not, remote anywhere works.

Sitting at home today staring at crypto charts ... can't wait to see what happens come August 1! Eek.

like

More Posts

I have an offer from IBM of 16 lpa, but recently I got promotion in my current company and package got raised. Should I ask IBM to increase my package?

Y. O. E - 5.10

like

I got call back from Capgemini that my expected CTC has been met. HR told "I got approval from my seniors of your expected CTC. I am generating offer letter in the system. You will get the offer letter by today EOD or by Tomorrow" Is he fooling me or I will really get the offer letter? Capgemini
Role: Team lead
Experience: 9 years
CTC offered: 21LPA fixed.
Techstack: .Net

like

Hi Folks,

Any opportunities in
Deloitte for Office 365.
Can anyone refer me, I'm having 4+ yrs experience.Deloitte

like

Has anyone seen the changes to United’s loyalty program? Any thoughts on the PlusPoints or new qualifying rules?

Anyone use Talkspace? What has been your experience?

like

I always believed Trump could sacrifice a baby at the alter of Satan and no one would bat an eye, but now that he's waging a war on Americans' pocket books, that changes things.

likefunny

Valuations or FDD? Trying to decide which team has the best exit opportunities/WLB/interesting work.

like
like

Anyone know when we get our bonus as a new joiner?

like

YOE 8, skill business Analyst, looking for a switch. Any Managers or Senior managers here please DM me.

is there any AML KYC or Financial crime or Fraud investigation roles open for Team Lead level in JPMC? can someone refer me with one? issue is if they are accepting Team Lead experience without it being on papers..

like

I’m a producer - interested in working for a brand and getting out of the agency world. Any advice how to find those opportunities and make myself marketable? I’m in a secondary market.

like

Best way to casually come out to coworkers?

like

Fishes, would you buy Rolex submariner as an investment?

Post Photo
like

What level of watch is acceptable to wear to work? Not sure if office vs client site also impacts

like

I just saw that a Hubler watch given to Hitler sold at auction for $1.1 million. It is an interesting watch (despicable as the recipient of said watch was), but it got me thinking about a larger question: does anyone here collect watches owned by the famous (or infamous)?

like

Any advice on how to find and build rapport with reputable ADs as someone just getting into luxury watches?

like
like

Anyone have a good doctor (general practitioner) they like and would recommend? I would prefer someone gay (cute would be great) who understands the special health needs for gay men.

like

Did anyone run the marathon?

like

Additional Posts in Accounting

anyone work in vancouver/toronto big 4 in audit that can give a rough estimate to average hours in and out of busy season in these offices?

like

I am thinking of moving to the Miami area from NYC, can anyone give me info on the job market and what the salaries are like there.

like

PwC people, does vacation negatively impact utilization the same way hitting G&A does?

like

My girlfriend thinks Big 4 is a pyramid scheme and they're breaking the law.

likefunny

If I have 5 years of experience with one PA firm and three internships, do you think a two page resume is appropriate?

Currently having a debate with my husband, so any and all input is appreciated.

funnylikehelpful

Started calls at 6AM and still have hours of work to do.... what a week!

like

PSA: it’s better to use all your vacation and then quit vs taking the payout. I just got cucked.

like

Any BDO iG folks here? If yes, how much do you travel?

like

Am I the only one who has my employer's name tattooed on my ass? #worklifebalance #whoshiring #futuretrophywife #lolnahfuturecenterfoldsheadliner

like

How do you over come being reject because you don't have month end close experience (Trying to get into private)

likehelpful

Has Deloitte tax heard anything about layoffs yet? Just saw the news about audit

like

Supervisor wants me to take on bigger projects. I'm all for it. Yet, the extra hours I'm putting in already (short staffed) are an issue. Advice?

like

some efficient study methods please? thank you

like

Anyone here quit juuling and then feel very drowsy all the time?

like

I’m a CPA and am weighing going back for my Masters, maybe an MBA?

Will I get any benefit from going back to get my masters?

like

Going on my first walkthrough with my senior. What can I do as a new A1 to be helpful and learn as much as possible? Thanks, fam

like

Best way to casually come out to coworkers?

like

Need a referral to EY or Deloitte. I’m a second year going to the third year associate.

like

Has anyone ever actually seen/had to cover up something sketchy on an audit?

like
like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal