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Financial Planning / Foolish 401(k)s
|Subject: Changing jobs - gap in eligibility||Date: 6/24/2013 10:27 PM|
|Author: LakeEffect||Number: 25071 of 25869|
I don't frequent this board, and a search came up empty, my apologies if this has been covered.
I participated in my employer's 401k for the first 5 months of the year. On June 3rd, I took a new job. I'm not eligible for participation in the new employer's 401k until January 1st.
What's my best option for the interim 7 months? I'm 55 and I would like to continue to fund my retirement and take advantage of any tax deferrals possible but perhaps I'm out of luck until 2014? I have an existing rollover IRA (to which I do not/cannot contribute*) and my Roth IRA is already fully funded.
Any options better than funding a taxable account until I'm eligible for the new 401k? Thanks in advance.
*on a tax deferred basis
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