UnThreaded | Threaded | Whole Thread (29) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: notseen Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75794  
Subject: Changing jobs, what to do with 401K? Date: 7/9/2007 6:16 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I don't post often but last time I did I got tons of great responses so I thought I would try again.

I am about to change jobs and I am faced with a decision to make regarding my 401K.

I could leave it where it is but no longer be able to contribute to it - it would still grow as it is but obviously I would do better if I could contribute to it.

I could leave it where it is and wait until I am eligible for my new employer's 401K and roll it over into it. This could take up to a year.

I could open a Traditional IRA and roll it over into it immediately and manage it on my own - I have been doing quite well with my own portfolio and my Roth IRA over the years.

I could open a Traditional IRA and roll it over into it and if/when I become eligible for my employer's 401K I could roll it over into it at that time.

So I have a few options here. Confusing the matter I also have a Roth IRA. If I open a Traditional IRA does this mean my maximum contribution between the two accounts is $4000 or is it $4000 each?

At the moment, I think I should open a traditional IRA and roll it over into it. That's what my gut tells me. Are there any other options?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (29) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement