UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next
Author: rkmacdonald Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Re: they said, "try this board" Date: 12/10/2004 3:48 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
miamiphantom3 wrote:
I`ve got to do something with my 401k. It has to be done soon, whatever it is.

I just wanted to add one point to the excellent responses already posted:

If you do a "direct rollover" from your 401(k) to an IRA, you may still physically receive the rollover check in the mail, but it will be made out to your new IRA administrator, with the words "For the benefit of Miamiphantom3" on the check. This wording is critical to avoiding tax problems later. This check will be for the full amount (ie, no 20% withholding). You then send this check to your new IRA administrator to be deposited in your IRA.

Sometimes, the 401(k) administrator will send this check directly to the new IRA administrator, and you never see it.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next


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."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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.