The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Got Fired-401(k) Rollover to IRA? Date:  7/5/1999  2:33 PM
Author:  ksircar Number:  11730 of 104419

Greetings Fools. I am 28, I got the boot five months ago from my former employer, and am now re-employed. I have $10,000+ in the old 401(k). What do I do with it? I cannot participate in the new employer's 401(k) until June 2000. My thoughts are (and I am sure I am missing options, etc. below):
1) LEAVE IT: I am bitter about leaving it with my former employer so they can get $$. Any advantages?
2) ROLLOVER TO IRA: I think I can roll it over into a traditional IRA. Any advantages?
3) CONVERT TO ROTH: I already have a Roth IRA with Schwab. I know that I must first roll it over to a traditional IRA, then consider the benefit of converting that traditional IRA to a Roth IRA. Suggestions? Thanks in advance.
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us