What happens to my 401(k) now that I’m leaving the firm?

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The partners flip a coin to decide who gets to take your pay packet for the year

likefunnysmart

You can also roll it over to an IRA. If you are going to another PA firm you may not be able to keep it at the old firm. Deloitte wouldn’t let me keep my BDO 401k .

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I cashed out my retirement and am paying the penalty. Tax rates are down this year so it helps offset the penalty. Small price to pay to have my house paid off and get rid of my mortgage payment.

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You can:
1. Leave it there and let it be until you retire.
2. Roll it into your new 401k - though there may be a few involved
3. Cash it out and pay taxes + 10% penalty (may be 20%)

Your best bet is to just leave it there “in case of emergency” - you could cash it out if you ever REALLY needed it.

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Rolling into an IRA is the best way because then you can pick your investments and aren’t limited to the funds your employer allows you to select from.

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Yes on your 401k plan selling your investments and sending a check to your IRA administrator, no on taxes. You're going from one qualified retirement plan straight into another, so you're never pulling the money out of a tax protected area.

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If you would be in the same situation as KPMG2, do that. Otherwise, do what PWC1 said.

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So what happens when I roll into an IRA? Are all my investments sold and the cash moved into an IRA? Doesn’t that incur taxes?

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No, it’s more like rollover (no cashing out) you just get to choose how you want invest it, and I believe you can keep on contributing.

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Since the fed rate is now zero.. What does thst mean for mortgage rates and savings rates? They gonna plummet to nearly 0%?

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Anyone been able to work from Dubai for a UK/US firm and benefit from no taxes? I know if you are a US citizen you pay taxes where you are globally, but if you are British, then you only pay income tax on UK income - so if you live more than half the year abroad you are classed as non-domicile resident, but wanted to hear if anyone’s done this or heard about it?

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Newbie here. Did any one engage a financial planning service? I’m 34 with young kids, no debt, and $300k in cash. Absolutely no other financial/estate planning and overwhelmed!

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Max out 401k before contributing to taxable brokerage? Roth IRA is already maxed out.

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Anyone ever have experience negotiating a new offer to include unvested 401k match and stock grants from your current employer? I hate leaving money on the table but there are some good roles out there. I’m not fully vested in my current 401k yet and my stock grants haven’t matured yet either. This would be at a global director level.

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What salary or net worth do people here consider "rich"

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For couples who are not married yet - Do you guys talk about net worth, income, or anything even finance related? I know my SO earns more given his current industry, but thinks it’s rude to talk about those things. But I’m wondering… isn’t it normal for couples who live together or are married share those info? For example - How am I going to know what to pay for our child’s education in the future etc?

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Which bank account is better for salary account?

HDFC
Axis

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Anyone in the foothills? Wife and I moved to CO last year and bought a home in Conifer. Love it up here, but would be great to meet some peers!

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Do you pay your credit cards in full every month?

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What stocks are you guy guys buying right now in this market?

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Accidentally overpaid into my 401k (forgot to account for employer match). How can I correct this without getting double taxed?

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Do you guys think the Bay is a good city to retire in? I want to buy my parents a house closer to me but not sure if I want to move them here but it's either that or I leave

For those watching their home value - which is best? Zillow or Redfin? I’m watching mine to see what equity I have to refi and potentially get PMI removed. Zillow is current showing home value at about 20K less than Redfin. Are there any other tools I could be using? Thanks.

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Anyone took personal loan from HDFC !!
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Which bank is best for personal loan considering all charges/ interest rates and all ??

Question for my 401k focused advisors out there--what programs are you using that is instrumental to your 401k practice that you simply can't do without? I'm being pitched on Envestnet & im not sold.

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If you living currently in a home and looking to buy another home but plan to put only 10% on the new home, can I pay the remaining 10% after selling my existing home in 1-2 months .. and get the PMI

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Noogler question: are approved Amex expenses from concur directly paid by google to Amex? Or I gotta to pay? My expense was approved but has not yet been fully received in my account..

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Can someone refer me to CITI ?

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Anyone work or know someone at E*Trade? Curious to hear about their culture and benefits

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Within Salesforce, @Quip, Slack, Tableau Software how often are there leadership changes at the VP or above level? Is this an annual thing? X years after acquisition?

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Does anyone have a referral for Rancho Biosciences?

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Glad that more stores are closing on Thanksgiving nowadays, I hope it continues. Cashiers have families too and I'm looking forward to seeing mine this year

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What's your favorite math level you enjoy teaching?

I"ll start. truly enjoy geometry. Wish I can choose to teach it.

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My sister is making really well made homemade masks! DM me for the order form!!

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likehelpful

Who else is going to return back to the office by October ?

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After 6 years of temporary contracts and unstable situations, I find my dream job in my dream company. All of a sudden the world goes upside down and I get laid off. I start sending hundreds of applications, with only 2 recruiters getting back to me to say I don’t have experience for the job (this is how it works in Italy). Add a terrible health situation in my family and it seems there’s no light at the end of the tunnel. Ugh. 😞

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I've a question on what sections to put on a regular resume. I see some people are using consulting style resume for outside companies as well. Do you think it's a good idea to devide work experience by projets? Or is it better to have "projects highlights" separate from work experience.. something like: intro>functional expertise> project highlights>work experience>education?

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@Bain folks (London office) - What is the salary for Associate Consultant (Experienced Hire) after the recent hike. Is it same as AC (Graduate hire)?

I have 2.5 years of experience.

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Summer intern at BCG. I've been told by a few people that you need to spend your first few cases "earning your stripes" to gain staffing optionality or be servile/loyal to a pyramid to gain access to the cooler case work within that PA. It's seemed particularly emphasized at times.

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I need a mentor to guide me for a job role in MBB. I have 5 YOE (4.5 years in Manufacturing & Automation 6 months in SaaS) any volunteers?

likefunny

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likehelpfulfunny

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Thanks in advance for the feedback.

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