Hi All,
I am planning on looking for a new job soon. What should I do with my current 401k? This is my first job so I don't know what typically happens when one changes their employers.
I know there are several options like roll it over into new employers 401k or roth IRA. Want some opinions. I will also talk to Fidelity to learn more.
#personalfinance #investments #401k
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Now traditional IRA is good because at anytime you can covert the money to IRA Roth by paying tax on it. Let's say you know that for a particular year you will be traveling and not working you can convert large amount of that money and pay lesser tax due to the tax bracket you fall in. After 5 years you can withdraw that money.