Rolling over 401k money

Intel
qwYH34

Go to company page Intel

qwYH34
3d 5 Comments

I don’t know whether to move money from my old retirement account into new retirement plan. I have close to 10k in my old retirement account. Should I leave the money as it is in the old retirement account or should I roll over?

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TOP 5 Comments
  • New
    tc_🥜🥜🥜

    New

    tc_🥜🥜🥜
    If you roll over into traditional IRA, it will mess with the taxes if you are also hoping to do backdoor Roth IRA later. Better to move it to new employers 401k if you need to (or just leave it in the old account if they don't charge fees)
    2d 2
  • Apple
     💻

    Go to company page Apple

     💻
    401k accounts are withdrawable paying 10% penal after termination of employment. If you move it to current employer’s the flexibility is gone util you leave the current job.
    So whenever i left the job I rolled over previous employer 401k to IRA account. So I can take it out. I don’t want to take it out but it’s nice to have that flexibility. Just my opinion.
    3d 0
  • Talk to Ameritrade, Charles Schwab or Etrade to open rollover IRA. If you leave it, there may be administrative charge with old employer
    3d 0