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With MBD there are two options: 1. Convert after tax 401k contributions to Roth 401k (Can opt in to automatic conversion on Fidelity, Vanguard, etc.) 2. Convert after tax 401k contributions to Roth IRA (Manual process by calling agent on Fidelity, Vanguard, etc.) Which of these do you do and why? #personalfinance #investments #google #amazon #microsoft #fabcebook #tech
I had to call to coordinate this rollover to Roth IRA. I prefer to call anyway
I call fidelity every two weeks, so that i can independently invest it and do options trading. Otherwise the automated version stays in some of the 20 shitty mutual funds that are part of our employer plan.
ira >>>>>> 401k self managed with all available tools or extremely limited set provided by employer that should be obvious
The only advantage of roth 401K is you can withdraw penalty free at age 55 if you retire. Check out rule of 55. For Roth IRA, you’d have to wait till 59.5. Obviously this is only for the earnings. The contributions can be withdrawn anytime for both without penalty.
contributions cannot be withdrawn without penalty in Roth 401k until 55/59.5. Penalty free contributions withdrawal before age 55/59.5 is only for Roth IRA if account age is >5
You are telling me you staying at Google until 59.5? You can get that shit out when you change jobs. I prefer Roth IRA tho
Shouldn’t most do IRA conversion? Why would you use Roth 401k
That's my thought. I manual convert to IRA bc I have immediate control, rather than waiting to leave my employer before I can roll it over
It's the hands-off method with automatic conversions. Plus you can always roll over Roth 401k to Roth IRA