Newb question, but if I leave my employer what happens with my 401k? Ex: I have the Deloitte 401K plan on vanguard. Where will those funds get moved if I leave the firm?

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

you’ll have one of 3 options:

1. Rollover to new employers plan
2. Leave the savings alone in Deloitte’s plan (you’ll eventually be phased out of receiving any investing benefits from the plan shortly after departing)
3. Cash out with typical 401k tax penalty

Did I miss any other options? @fish friends?

like

I’d recommend finding a firm to manage the monies from your 401k rollovers. It will be an account that is separate from your current employer. Every time you make a career move, you can roll your recent former employer 401k into this personal portfolio. Many companies would love to connect with younger 20/30/40s to provide this service at a small fee in hopes to expand their working relationship with you in the future. They also can help you make wise portfolio selections within your current employer 401k. I use Raymond James and they are fantastic.

like

One thing to keep in mind... if you roll it in to a regular (non Roth) IRA it will mess up your ability to do back door Roth IRA in the future

Because of this I’d either leave it where it is or roll it to new employers 401k plan

like

They stay active. Up to you for if/when you want to roll over into an IRA.

It's actually fairly simple once you get the process started. Your new 401k provider should let you know all the steps and paperwork needed.

Call Vanguard, they will walk you through the process.

Related Posts

If I’m contributing to my Roth 401k vs pretax 401k and my employer matches 10% of my contributions. My employer match be 10% on my post tax contributions right? Technically meaning I’ll be getting less of my 10% employer match then if I were to do pretax 401k since that match would be on a higher amount?

like

I’m 25 and have found a duplex I’m considering purchasing as a rental property. Planning on renting both units and have the cash to make the down payment without an issue. My cash flow analysis has a payback period of 3 years for my down payment and a 13 year payback period for the whole investment. I think financially it makes sense. My question is, is it realistic for a 25 year old young professional to handle dealing with all the extra curricular’s that come with owning a rental property ?

like

Any realtor recs? Looking to buy in Seattle

like

I have an expiring British Airways credit I need to use in January or February. Options are Lisbon, Paris, Rome and Athens. Anyone have thoughts on any of those in the winter/off season?

I'm coming from the US - my flight credit is use-it-or-lose-it so I'm trying not to spend much more than the original credit.

like

What’s a good budget for rent if I’m making 138k + 14k sign on in NYC? I’ve got like 10k in student loans and about 5k in credit cards. No other obligations.

like

Any good ETFs to invest Roth into?

like

Have 50k in a checking account at a local bank getting no returns. I like having liquid assets since I support currently myself & girlfriend and any unexpected expenses my mother & younger brother have. Any advice how to calculate what I should keep on reserve vs. invest + learn about consequences of pulling investments early (more tax, fees, etc.). I feel like the inability to access funds when my family needs it has been the reason I haven’t invested outside of 401k and have this cash reserve

like

Personal finance book recommendations?

like

Can I bring my parents and sibling also in relocation reimbursement and also for the hotel accommodation?

like

Currently 23yo with $65k in cash and $14k in student loan debt. Not sure what the best course of action is. What would you do?

like

Anyone with experience in the short term rental space willing to connect?

I was in the market for a first time home in New York but the market and rates got too out of hand. Recently pivoted to a few out of state options for an STR and would love to learn from someone who's set one up.

Thanks!

like

I am trying to justify house buying in HCOL city. The house cost is minimum 1.4m .monthly mortgage would be at least 7k(with just around 2k principal) rest goes to either int,tax. Not to mention regular house maintenance. How is it better than 3.5k rental. I understand appreciation and own house independence. But I am just trying to make numbers work.

like

Have you experienced racism at work in the healthcare system? I have.

like

Any advice in terms of investment to save the maximum tax?

like

Hello folks,

I am new to fishbowl and recently got an offer from Publicis Sapient for a senior associate. They are offering $136k with unlimited pto benefits. As I am from the industry and haven't heard about this company before, I would like some comments or thoughts about working for this company? How do they invest in their employees (like pay raise, promotions, etc)?

likesmart

At KPMG how much is the health insurance cost per paycheck for employee-only coverage?

like

How do maternity benefits work for NJ? 16 weeks paid leave?

like

More Posts

I’ve been having a super hard time concepting lately, especially knowing that the “concept” will mostly serve as a sticker to slap on the cover of a CVA and the top of a website. I feel like every pharma concept I’ve ever seen or created becomes so cheesy once it appears in tactics. Does anyone have any examples of HCP creative (non-DSA) that is both impactful and translates well into pharma tactics?

like

I am taking the MA RE salesperson exam soon. Can anyone share their experience- any tips or tricks? Any practice material you would recommend?

like

SAP 🐠, If you have a chance for a “do-over” in your SAP career, what would you specialize? OTC? PTP? Finance?

like

Anyone at ZS willing to chat about a SIPA role? A recruiter reached out to me.

like

Oracle India Hi Fishes,

Does anyone can suggest me what to do? I recently joined oracle as a staff Consultant supposed to work as a Java developer but working on their utility framework. I don't have any interest in this. I want to work on Java with springboot development projects.Oracle India

like

Good Eve Everyone

I am nearing 10 years of experience in my Electronics Career domain. Now i am looking for a change in the same. I have experience in complete product design. I have worked for Industrial, commercial, telecom domains and now working for medical domain. Kindly refer me to some which suits my profile.

like

I’m 36 and I recently reached a net worth of 1 million dollars. I thought I was doing good but then I see other people with several millions and can’t help but wonder how they got there.
I feel I’m doing everything I’m supposed to (I save, I invest, I max out my 401k, IRA, etc...).

What can I do to upgrade my game and reach those higher numbers?

likesmartfunny

Looking to book one night at a Marriott property in chicago to celebrate anniversary with my wife - mostly deciding between the Gwen and the Ritz. Which would you choose? (Assume price doesn’t matter)

like

Redeemed my recognition points for a portable air conditioner. Hope it's effective!

like

Is FDD similar to audit where there are different industries? Like Financial service/ healthcare / NFP

like

Anyone in printers row know of good gyms around ~$50? Looking to avoid LA Fitness at SouthGate or XSport (reviews seem to agree - they are a mess). FFC is just not in the cards rn.

Joined a call to hear “how’s my sql replication looking? Yeah,!I’m good.)

like

Hi guys,

Does anyone going to office in regular basis. I mean for India location. Is it mandatory to go to office?

like

Hi Fishes,

Can anyone of you please tell me what would be the hierarchy level for a person joining in
JPMorgan Chase with 5+ YOE?

What should be the naming convention of design for a person with this experience?
Analyst or Associate or Senior Analyst or Senior Associate?

Any leads would be highly appreciated.

TIA

like
like

Why do you enjoy Boston (as opposed to other cities)?

like

Tips to clear AWS solution architect professional exam. No background in AWS

like

Any coat recommendations? Looking to spend under $400 mid/long length in a dark grey or black. Never bought a coat before looking for something good quality that won’t break the bank

like

Does anyone think that it’s wrong to just not need a lot of companionship? I have an SO, decent family members and I guess a few friends. And I really don’t feel the desire to surround myself with peo

like

13 years experience and no college education. Best way to go about earning my BA and taking the CFP?

like

Additional Posts in Consulting

Anyone afraid to take vacation in FY18, for fear of missing utilization? 🙋🏼🙋🏼‍♂️

like

Why is nobody talking about Jose? I understand Irma is the immediate threat but nobody is talking about Jose's predicted path of impact given its Category 4 status and probably a few days behind Irma.

like

TSA Pre✔️ seriously needs an aptitude test. The group in front of me wanted to walk straight through carrying their bags

like

Partner 🐡: How much of the work related stuff posted in here provides you meaningful insight vs. comes across as unfounded griping?

like

How long does it take y'all to get ready Monday mornings? From waking up to out the door..

like

On the bench for the first time in a while. So happy I'm not waking up at 4:40 a.m. Good luck to the rest of you flying out tomorrow! I'm going to sit naked in my bed and build a few decks.

like

Toronto :) 🔥🔥🔥

like

When should I move from consulting to an industry position in Financial Services? How different are annual pay/bonus increases?

like

Interested in a San Francisco/Bay Area networking/support group for consultants that have been laid off?
See comments for more details

likeupliftinghelpful

Looking to target PE firms as clients, need to do some research on how they work so we can speak intelligently when trying to sell operational work to them. Any book recommendations ?

likefunny

Best business-oriented, but novel-style books with good writing, style, & interesting characters? Not really self-help/advise focused, more of actual literature with business themes/plots. Any recs?

like

Smart to look for a new job with a “recession” looming? Wanted to leave by end of the year, but nervous I’d be the first laid off at a new spot

likesmartfunny

What is the best consultancy for Media and Entertainment work? Considering a move…

like

Any recommendations on books to get up to speed on leading/managing teams as a new manager in consulting? Preference towards tangible case studies etc. vs. high level concepts.

like

What’s your backup plan if you are laid off as a result of the downturn?

like

Sheraton bed or the Westin bed in terms of good night sleep? In other words, If you had to buy one which one would you go for?

like

BCG folks - any other benefits besides the major ones that I should be aware about (e.g. gym membership reimbursement, mobile reimbursement etc). I’m joining at the end of March. Thanks!

like

Is MBB and management consulting losing its value among young people as employer? Since i noticed majority of young people currently want to work for FAANG, startups, crypto, Unicorns, want to open their own things, etc. I guess in 2000s and 2010s consulting was a top choice for graduates. But what about now? Would love to listen to your thoughts and observations on that one

like

What is the value in professional certifications? ACCA, CFA, CIPD, etc.

like

Do consultants get fired from a client for moving furniture around? (like a stand alone monitor) from an unused room he was given to sit, supposedly reserved for auditors. Asking for a friend 🙃

funnylike

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