Moving from Microsoft to FB - should I (A) roll retirement account into an IRA, (B) roll over into FB-sponsored retirement plan or (C) leave money in Microsoft’s plan. Also, what happens to my HSA? Does FB offer high-deductible health plan or no? surprised there’s not an “Investing” Topic
Rollover to new 401k.
Roll into new 401k or existing it's.
You can keep in the old one or move to New. New is recommended. Make sure it is corporate to corporate transfer and you do it within 30 days of leaving your company
There’s no such requirement to do it within 30 days. I did it 8yrs after leaving an employer!
Withdraw to deposit into new account requirement is 30 days, makes sense if you are mailing paper checks
You can also roll it into your own personal plan. This way you are not limited to only buying the mutual funds offered at the new plan and can even buy stocks with it.
But then you cannot ro a backdoor roth ira because of the proportionality rule
What is the proportionality rule?
Definitely A. Full control over your own money.
Except if you roll it to a traditional IRA, you won’t be able to do backdoor Roth without tax consequences. And if you roll it to Roth IRA you’ll need to pay taxes on the pre-tax portion.
But then you cannot ro a backdoor roth ira because of the proportionality rule
Roll it to Vanguard or other personal retirement funds. You have more options than company funded retirement fund.
But then you cannot ro a backdoor roth ira because of the proportionality rule
I left recently. I plan to keep msft 401k because I like performance of my choices so far. I called Fidelity and confirmed there are no additional fees now that we're not an employee. You should move your HSA because those asstards are charging you a $5/month maintenance fee
Thanks! Where did you move your HSA to and will it still have the same tax free benefits? I use it as an investment account https://www.madfientist.com/ultimate-retirement-account/
I did the same because I like the options in the MSFT 401k but you can check the options in the FB 401k and see if they work for you. Check the funds and their expense ratios. MSFT has some ultra low expenses for some of their index funds. I suspect they are better than FB options but it’s only a suspicion. On the other hand, some people don’t want to manage multiple 401k accounts so maybe it’s worth it to rollover to your current employer 401k if this is true for you. For HSA there are options out there if FB doesn’t provide one for you to rollover to. Lively HSA works well so far. No fees for the banking side and you can use TDAmeritrade for the investing side for $2.50 a month. You can also pay the $2.50 a month from a taxable bank account instead of having the fees taken out of your HSA. (A minor thing but nice, if in principle only)
Move it to bitcoinira and choose BCH and transfer it FBO to be tax exempt.
What is FBO? Searched online couldn’t figure out what you meant
For the benefit of
Roll 2 Vanguard then have their low cost, but high quality advisor service take it from there
There's a finance topic
Yea I almost selected that but then I wondered if it was for the Finance discipline, versus engineering, design, marketing etc