{ "media_type": "text", "post_content": "Need to move traditional 401k balance from old employer somewhere. Is it better to move to my new employer’s 401k plan (assuming the investment options are decent) or an IRA? I max my contributions to the limit if that matters. Thanks!", "post_id": "5f248df3913d290022d2ebe4", "reply_count": 7, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }

Need to move traditional 401k balance from old employer somewhere. Is it better to move to my new employer’s 401k plan (assuming the investment options are decent) or an IRA? I max my contributions to the limit if that matters. Thanks!

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New 401k. This has been asked a lot but long story short is if you convert it to an ira, it’ll complicate doing a backdoor Roth IRA in future

helpfullike

New employee else you lose the ability to do backdoor Roth IRA contributions in the future (when your income surpasses ~$120k)

likehelpful

Just to clarify, you don’t lose the ability but it makes it a lot more complicated and has tax implications.

If it’s already a Roth 401k take it to a broker. Most options in a company plan suck if you want to do anything other than an s&p index fund you may have trouble finding things that don’t have stupid costs.

Yes. Thanks for clarifying.

Came here to reiterate new employer 401k HANDS DOWN.

At some point in your career, you may be interested in backdoor Roth even if you aren’t right now. And moving that money to an IRA will make backdoor Roth complicated (if not impossible). Your future self will thank you.

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