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Financial Planning / Tax Strategies
|Subject: 401 k direct rollover vs. transfer to IRA||Date: 10/14/2002 1:51 PM|
|Author: cabreck||Number: 61704 of 121219|
I left an environmental consulting company in CA and am now working as a teacher in NYC.
I need to do something with my 401k (which is now pretty small after the last year or so). I can't roll over my 401k into any retirement options for my new job so I need to open a personal account.
What are the different tax implications of: a direct rollover into a new personal retirement account versus the transfer of the funds to an personal IRA account?
And are there any advantages to converting the funds into a Roth IRA?
I am 31 now, still awhile until I am buying a Winnebago.
I pretty much want to leave the funds (which are in a family of mutual funds) alone, but be able to move them around within the fund family later.
Any input would be appreciated.
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