I'm leaving PwC in a month. Won't be eligible for 401k for a year at new firm. What do I do with my 401k?

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

Roll it over to an IRA

like

Do you mean you can’t contribute to new 401k for a year or you can’t even roll your balance for a year? Is the 401k traditional or Roth? If you use or plan to use a backdoor Roth IRA, I would not want it rolled to an iRA.

like

Oh, that's a good question. I'll have to ask. It's a traditional 40k1. I should be able to roll it without contributing.

I agree, I don't want to roll this into an IRA. I am going to open an IRA so I don't lose my contribution for this year. Does that sound logical?

I have always rolled a 401k to an IRA for flexibility reasons alone

like

That may be a good idea but if you use a backdoor Roth IRA or plan to, it could be a bad idea

like

Any chance you’ll be a first time home buyer soon? If so you should roll it over to a traditional IRA because you can take out $10k penalty free to go towards the home purchase

like

Nope, have owned 4 houses in my life so far.

401k rule is usually your company matching won't vest for a year. I have not heard any company that doesn't let you contribute toward 401k

like

Agreed! It’s unusual to not be eligible at all for this long of a window.

Also not eligible to participate at all for one year, or they wont match anything for one year?

It would depend on what tax bracket I was in. Average person… I would recommend doing a Roth IRA (if you can’t rollover the 401k). I wouldn’t recommend leaving it with PwC. Just think you will have better/more options elsewhere.

My new salary will be around $135k

Related Posts

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.

I got Medical Reimbursement of around in current month salary, but I don't think I had applied any bill or submitted any such amount. Can someone tell what exactly is this amount for?

like

Just wanted to celebrate a little for completing my first week as an ACD and first week back after maternity leave.

likeuplifting

Hi fishes,

Does anyone know about HR Path company. Is it a good company to join as a SuccessFactors Integration Lead ?
How about the work culture, work life balance, compensation and benefits?

Please help out a poor fish trying to move for a better life. @HRPath

like

What is the average employee health and benefits account manager making? I have 7 years of experience in Employee Benefits.

like

Does anyone feel like they need to keep saving more, even though you’re already doing what you can (maxing 401k, emergency, building up a nest egg, investing, etc etc etc)? How do you know when you’re good and it’s enough?

like

Does anyone know what the fertility benefits and maternity leave are at IPG companies? I'm considering an opportunity at an IPG-backed small agency and trying to figure out what the IVF coverage looks like. When is the right time to ask for their benefits package? TIA!

likehelpful

What’s your exit strategy? Do you have a number/age in mind? In days like today, I wish I could retire and not look back. But two kids, living in NY, think at least 6M (combined with hubby) in the bank before contemplating… what about you?

like

McKinsey & Company How does the new DEWS Contribution plan in Dubai work?
Does the employer match our contibutions like a 401k?


Strategy& Boston Consulting Group McKinsey & Company Kearney Oliver Wyman

like

Hey all, I am looking for a freelance Strategist engagement/Omnichannel planner to work on a Pharma/healthcare brand
Dm me if interested

like

Hi all. My 6mo rvw is approaching in <2mo. I am aware I will receive a performance-based raise, but not sure how much. My student loan payments kick back in shortly after and I could use some advice on how to ensure that raise accommodates as much of my new debt as possible. I have over 6 years of various office and FOH experience, but no degree. I often receive praise from coworkers and intend on revising my SOP to record every one of my tasks in my current position to cover my basis. Thoughts?

like

Mid size firm peeps, what is your maternity leave policy? Wondering how comparable they are across the board

like

I’m a healthcare recruiter that specializes in physician and CRNA recruitment across multiple specialties. I’m curious from the other side of the same nickel, what do you want in a new job? Are you interested in travel contract work?

like

Recently i have attended interview at legato for healthcare Domain Team lead/AM position for Bangalore location. I got an confirmation from my consultancy that i have cleared 2 technical round and HR need to finalize the offer. HR has scheduled the interview but he not joined, so I just send an email to know the further process. After that i haven't heard any update from HR. Pls confirm that HR process is late in legato? Pls confirm what CTC i can expect from HR?

YOE 10
CCTC :7.5LPA

like

I’m a first time founder of an early stage health tech startup focused on helping people discover doctors and wellness solutions. Looking to network and find a co-founder!
I’m in pre-launch of a q&a product feature for people to ask questions and healthcare professionals to answer these questions.
If you have experience taking these products to market, what are effective outreach strategies?

like

I’ve been hired by a health benefits startup with only consulting experience. Any recommendations for books, blogs, or online course material to get myself as oriented as possible before starting in 2 weeks?

like

Hi Everyone! Happy Friday! I’m new to Fishbowl. I’m an experienced EA with a diverse background seeking a new role with competitive compensation and benefits. I’m located in South Florida but I’m open to remote, on-site, or a hybrid position. Feel free to reach out and connect!

like

26 years old. Thinking about doing Grad school in 2 years. I have been doing Roth 401k. Should I keep on doing that or switch to Trad 401k? Info on this is so mixed :(

like
like

Ripple XRP - Bloomberg terminal, bank partnerships, Amex, and more - Forbes, Fortune, Business Insider articles - recent jump to $0.74

like

More Posts

I’m not interested in my boss’s feedback during one-on-ones when it only reflects their insecurities, not truly how I can improve.

likeuplifting

Partners or whomever can help me understand about billing and hours. To keep things simple, let’s say you only have one staff to work 1,700 billable hours a year on a $60k salary and you have only one job that and the rate charged to the client is $300/hour and an projected hours budget of 1,700 hours. So ideally you would have revenue of $510k. If the staff takes less time partners make less money and if they take more time partners make more money while the staff keeps the same salary?

like

Looking for a watermelon pit ticket for Harry Styles the 24th the united center. Anyone have one to sale or a reputable hook up? looking to surprise my daughter for her birthday!! Help a momma out please!

like

HELLO All, PLEASE HELP ME.. I got an offer from StandardChartered and want to join the company but due to family reasons i cannot relocate to Bangalore from Pune. Now that i have a joining in a week, i need to discuss the same with HR. Please help as i want to join SC for financial reasons. Also, I can come to Bangalore for few days if needed for meetings n all but not permanently. I dont know whether the HR will agree to WFH policy or not? YOE: 10 CTC: 35 LPA DEVOPS

like

Anyone else find it weird for their male boss to WhatsApp you asking about how you are (prior to your due date and prior to giving birth)? He has my private WhatsApp because he insisted and I stupidly in hindsight obliged. Just wish I knew how to politely get out of this. I figured I'd email HR like they told me once I gave birth and at some point email him as a courtesy :/ i live in Germany so am already on mat leave hence why he doesn't know yet if I've given birth.

like

I am seeing freshers or people with 2-3 year experience getting onsite opportunities at TCS these days? how and why is it happening suddenly?

like

How is the work life balance in a big 4 firm for a senior in the tax department year round?

Lol @ Auburn.

like

I’m starting a new role on 12/13 (woohoo!!) but my background check isn’t expected to be complete until 12/2. Would it be bad to only give one week of notice?

like

Which websites do you use for interview prep?
I struggling to come up with compelling stories and thought that mock interviews may help with that

like

Serious question, when does deloitte do annual reviews and promotions?

Can anyone help me with the referral for a Area Manager (Gurgaon) JOB ID- 6154 at Swiggy?

like
likehelpful

A lot of security pros I meet are not in a good place emotionally because it seems hopeless. However, some are just fine.

What are the coping strategies that work?

I will start - mine is to find the funny in everything from lack of patching to supply chain hacks.

like

Wanna get quick reminder on the sexism in this industry? Try having a conversation about Elizabeth Warren in the politics bowl.

likefunnysmart

Do many people use their work phone as their personal as well? I’m concerned about giving access to my personal information although not sure if they’d actually monitor it closely / could save a good amount of money

like

I’m looking to get my first job Online i need help please…

like

11 likes plz to unlock my dm..

like

Multiple open positions for the Support domain at VMware, interested please DM.

Post Photo
like

I have an aptera reservation. Anyone else? I’m hoping it will be really fun to drive.

like

Additional Posts in Personal Investment Chatter

I was planning to buy a home next year, but now I expect to renew my lease once it expires. If so, I wouldn't be buying a home for at least 2 years from now.

Guessing I should still leave the down payment in a HYSA (getting 3% right now)? Sucks to miss out on market returns, but I understand that conventional wisdom is not to invest money you'll need in the short term (within 3ish years). I'm definitely tempted to put a portion of that in VTI though...

like

what’s the most you’ve spent on brunch 🤣

funnylike

If you were to attend a 1-2hr free financial seminar, what would you want to learn? I'm thinking of hosting a free financial literacy workshop that will actually make a budget and networth statement.

likeuplifting

Recommendations for how to allocate 401k with Fidelity. Just switched jobs and have to move from Merrill Lynch to Fidelity

like

Currently building a house, 6 months to go and have down payment and a little more in a HYSA. Is it wise to put the remaining in an S&P 500 ETF to capture some of the bull market or hold onto cash?

New to investing. Looking for any/ all tips... book recommendations, YouTube videos on how to get started

like

If a company in which I owned stock was taken private, does that mean I should sell my stock because the price isn’t going to change?

like

Did you share with your family when you hit a 1M net worth?

like

If I get a new job in New York but only move in august, would I be able to avoid state income tax for all of 2021 income given I spent over 6 months in Florida ? Have lived in Florida for all of my career thus far.

like

It’s not much compared to most of the posts I’ve seen in this bowl, but I finally hit $10k NW after I started working FT in August.
Everyone in this bowl has been a tremendous help in this process. I’ve never been good at saving, so this is a big milestone for me. Thank you again to everyone who gives out advice in the bowl, it is truly invaluable. Happy NYE! ❤️

Post Photo
likeupliftingsmart

On personal Capital, how many of you add the value of your car to your net worth

like

What blogs/books/resources should I seek out if I want to make the transition from passive trading (index funds/buy and hold blue chips) to more active trading (options, speculation, spending a few hours a week researching, etc)? I’m looking to turn my investing into more of a side hustle

like

Where do you go for stock market news?

like

Thinking of putting a large sum in ETF. Should I wait for the market to go down or should I go ahead?

like

Noob question. I was consistently investing from the last 6 months in etfs upto 130k. Up until day before my account showed gains of 10k and today all of it is wiped out. What is I’m the rationale..

like

Came across a duplex for 475k in SoCal. Up and coming area that’s getting gentrified fairy fast. Looking to rent out the front for 2k and and splitting the back with a housemate for 1k. Cont below.

like

Any online savings account recommendations?? Want to get a gist of what comps ppl are using. Please and thank you!!

like

Start tomorrow but I don’t get a match for 401k until 2nd year. Living at home and wanted to pay off my loans. Is it ok if I just do loans, max out IRA, and have an emergency savings? Projected CONTD

I max out all tax-advantages accounts and put 30% of my take home into an index fund. What/where else can I invest in?

like

After I max my 401k/Roth IRA, I put $ in my individual brokerage (all through fidelity) via transfer from my bank acct…is there a better or more tax advantaged way?

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

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

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