Leaving Walmart to Join LinkedIn. I have around 100k in 401k. What should I do and why?
Edits: I am in my early 30’s. I don’t have any ira, sep-ira accounts at this moment. I am also highly interested in seeing if i can do a backdoor roth conversion of the whole amount right away. Not sure if the backdoor roth option will stay here in long run.
#linkedin #401k #ira #investments #personalfinance
#walmart
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So can’t i take all 100k from 401k and just move them into traditional ira and then do a roth conversion of whole 100k?
1. Backdoor roth option might change in future and might not be available anymore
2. Mostly my taxable income for this year will be much less compared to my future taxable income
3. I am on H1b visa and incase I were to leave US before retirement then i might end up taking out whole money and at that time I’ll have to pay taxes on whole amount in 401k as compared to right-now only on 100k. I mean if i were to leave well before retirement then I won’t be able ripe the benefits of a roth