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What happens when most of your team is Indian?
What should i do with my 401k account in fideilty after leaving the company? my new company does not use fideilty.
Roll it over to new company’s 401k if you want to do backdoor Roth IRA. Else move it to a traditional ira
I thought Roth mean after tax
Google backdoor Roth IRA. It’s after tax but for conversion you would need to take all your traditional ira
The plan might let you keep it and you can be on fidelity indefinitely
You can keep it there as long as they don't close the plan.
Can we have 401k from fidelity fro previous employer and new 401K account from new employer at the same time?
Yes
Check which plans are more subsidized and have the lower fees on the investment products
Roll over into a traditional Ira at your brokerage, usually much lower fees.
☝🏼rolling into an IRA w/ your brokerage will also give a wide range of investment options (MF, ETF, stocks, etc.) verse the 20-30 MFs you’re limited to in your old 401k plan
Yes!
Isnt there a time limit to rollover to IRA?
I am curious. What happens to your 401k account when you leave the country? Can you access it from anywhere ?
Yes
You can roll it out to your new account or to a new ira, I have an ira where I roll out the old companies 401k , so I don’t have 20 401Ks all over the place
If I leave the old account in fidelity, will it cash out the money at the end of the year? Don’t want this happen.
Fidelity will inform you if the older company wants you to move it