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Please accept Indians. I can’t go back. 🇺🇸🙏
Happy Friday!! L6 SDE 400K Google offer in India - Staff - 1.6 CR with 2 days in office. I am moving back to India in June for 2 years due to personal reasons. It may be permanent, I am not sure. I have around 300K in my 401K account. Robinhood is offering a roll over for a 3% match which is around 10K. I would like to know if its worth moving 401K in Fidelity to RH Concerns 1. Access in India - Fidelity is good from what I know. RH has bad customer support 2. Does roll over involve taxes to pay upfront (I know we have to pay eventually) ? 3. Any penalties ? I thought of rolling over as I get more options to invest in IRA and RHs offer for a 3% match during roll over and future investments.
2. Rollover is not taxed provided you complete it within 60 days of withdrawing from the source account. 3. You have to keep the money at robinhood for five years otherwise you lose the match.
I think no. From an institutional standpoint Fidelity is just more solid and safe. Also depending on what you invested in before, that fund may not be in RH. Most importantly, 3% or 10k for a one time event in the perspective of investments just isn’t that impressive if you’re happy with the current performance of your portfolio. I would however consider RHs annual IRA contribution.
Thank you. Yes the 3% match got me thinking.
How shitty are your 401k options?
There shouldn't be any tax implications to rollovers