The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: What to do with my 401(k)...||Date: 7/1/1998 4:34 PM|
|Author: GeekFoolBoy||Number: 4105 of 76237|
<<Hmmm….something weird is going on with the board. Had I not just made two posts that got buried because they were dated "6/1/98", I would have skipped yours even though it's new because it carries the same erroneous date. >>
Glad you caught it. I noticed it after I posted, but didn't know if I had messed up the post in some way...
<<Option 4 is not available. You cannot transfer money to a Roth IRA from a qualfied retirement plan like a 401k.>>
Thanks for the response. Actually, I kind of concatenated this choice. I had planned to move the money to a traditional IRA and then immediately convert it. Fidelity told me this is becoming more common every day. I'm running the numbers now to see if the Roth is an improvement over the traditional IRA for my situation. I'm also checking out a number of discount brokerages to see who I like best. Not an insignificant task...
<<At your age, we would strongly suggest the use of stocks or an S&P500 index fund>>
My thinking exactly - this is why I want an IRA over another 401(k) (my new company *does* allow rollovers into their plan, but the investment vehicles stink). I'm currently planning on putting half of the 24K into an index fund and the other half into stocks - likely the foolish 4.
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