I’m joined a new company and I have about 85k in my 401k. What do you guys think I should do with it, just move the 401k to the new company’s 401k or move it to Roth IRA ?
Definitely should roll over off the old company 401k. Options are moving to another brokerage, or self direct (google that), more involved but you get to invest to other asset classes like real estate beyond stock, mutual funds...
You know you can buy a house for that $ in many parts of the US as a rental property
You understand OP will likely have to pay penalties for withdrawing that money, right? 🙄
Your intel was so bad, intel
Isnt Roth ira prohibited if you make more than 135k?
Backdoor Roth is open to everyone irrespective of income.
Put it in Ameritrade and buy Google or FB stocks
Without knowing any details, I’d assume rollover to your new 401(k) is the best option. But it depends. Is it traditional 401(k) or Roth 401(k) that contains most of your source money? Do you have any traditional IRAs? Do you want any traditional IRAs? Do you plan to make other Roth conversions, particularly of nondeductible IRA contributions? Will you have a lower income this year compared to most years? What is your marginal tax rate going to be this year? What is the quality of your new 401(k) in terms of investment choices and fees? Assuming 85k is in traditional, you may be talking about paying 20-30k to convert it to a Roth IRA. Rolling over to a new 401(k) would not be a taxable event, but keeps your traditional IRA space open (if it’s currently open) for nondeductible contributions and further Roth conversions. That’s why I’d recommend it without knowing any other details.
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Vanguard Roth IRA. Control it yourself vs letting your company control it.