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What is your companies medical insurance like?
I think my company has not so good insurance but that’s just compared to friends I know that work down at the docks/port.
Current medical plan - single person.
plan is level 2 out of 3 tiers.
$97 a month blue anthem ppo
$1700 deductible
$4000 out of pocket max
100% preventive covered
80% diagnostic covered AFTER deductible hit
80% prescription covered AFTER $200 deductible hit…
Thinking about having surgery for my knee and this seems costly
Northrop Grumman
Looking for a position in Las vegas !?
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IRAs are generally more flexible and allow you to invest in just about anything. If simplicity is your goal 401k is fine.
Trying to think of any negative to IRA approach... if you have traditional 401k or a mix would the IRA approach create issues with a potential future backdoor Roth?
You wouldn’t be able to do a backdoor Roth as the amount the would be taxable in the ratio of basis in the plan to total assets.
You also can’t take a loan from an IRA.
Best to role it to prevent paying any tax on taking the money out. However, if you think another company other than the one your company uses (i.e., Fidelity, Charles Schwab, etc) then you can roll it into an individual IRA at an institution of your choice.