Related Posts
Mentor
Enthusiast
More Posts
Hello Fishes,
Need some advice for my cousin.
She has done MBA in Finance ,(2018 passout) after BCOM.
Worked in HDFC bank for 2 years (till 2020).
Due to personal reason left job at end of 2020.
Trained in SAP FICO, now trying for certification.
How could she get into IT company(fresher).Capgemini IBM Tata Consultancy
Tux budget NYC?
How do I invest in ETHOS?
Community Builder
Additional Posts in Finance
Which firm hires the dumbest people?
Khaleesi is coming to Westeros!!!
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Chief
This is very circumstantial. You should consult a professional
I’d be happy to help. Often times you will be better off rolling it into an IRA and diversify into funds aligning with your goals and risk tolerance. A lot of 401ks are great for the employer match, but not great with fund versatility. It’s amazing that you have a Roth 401k option and are utilizing it
Leaving a 401K with a company where you no longer work is like leaving your money with an ex after a divorce!
Ha! I guess I agree, but my previous employers 401k consistently outperforms the one provided by my current employer. Was thinking of consolidating but…yeah it just does so much better than what is available at my current company. From another previous company, I rolled that over to self directed IRA and did ok for myself, enjoy managing a little portion like that myself but I don’t have the time or energy to manage my entire portfolio on my own
Yeah really depends on the fees
Cost is only an issue in the absence of value
Get it into a low cost IRA.
Your 401k provider has ridiculous fees.
I’d roll it over to an IRA with one of the big names, I like TD Ameritrade but pick your favorite.
And?
It would depend on your situation and the fees. I would move it to my current account, but that is a personal preference.
You can’t move it to the current account because it’s Roth. Also, the “fees?” They need to work with a professional and get solid advice.
Old Traditional 401k ➡️ New Traditional 401k
Old Roth 401k ➡️ Personal Roth IRA
The only reason to move traditional funds into an IRA is if it's a tax hit that makes sense for you. Don't open a Traditional IRA unless you never want to backdoor Roth.
So it's "wrong" because you didn't read or can't comprehend. It literally says that the Traditional IRA makes sense if your tax situation works out that way. I then reiterated that it can make sense in the right tax situation.
Brush up on the reading comprehension skills FA1.
A lot of 401k plans offer advice. See if yours does and speak with them.