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In this episode, we answer Allison’ and Greg’s question about rolling over their 401k from their previous employer to an IRA with Fidelity. We talk about the different options that they have and potential investments to consider when doing a roll-over.
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Your new glasses look cool!
The only problem with roll overs when the market is low is is that if you can’t do an in-kind transfer you risk having your money out of the market when the correction occurs.
My previous employer switched brokerage firms during a dip and that meant I had no control over my investments during a volatile time.
So definitely roll over your money to a brokerage firm where you have the power to manage your money.
Whether or not you do it now … you should decide based on your confidence of having access to your old employer 401k vs the estimated time to roll it over.
She could think about a rollover to a Roth IRA. It's a big tax hit, but withdrawals are tax free after age 59.5. Otherwise, rollover to regular IRA. SCHD is also a good choice. Only high quality companies that pay dividends are in that ETF. The 5yr Roth Conversion is a great idea too.
Soo so Good.Caller Congrats! YaaaY for #GoodProblems to have. Excellent response.♥ I always learn something new. 🙏
I've been with local government going on 22 years now and had no idea what to invest in for the 1st 15 years there so my 401k and 414h were in MANAGED ACCOUNTS and sitting there stinking. I figured it out a few years back and now is THE PERFECT TIME [imho] to get the rest of my money into the BlackRock and Vanguard options available to me.
Thank you. I have been doing research and they all say there is an expense fee to hold Vanguard in Fidelity account, so you guys answer my question. And Thank you Allison and Greg.
What is your thought about taking money from your previous employers 401k and rolling it over to just a standard investment brokerage account as opposed to an IRA?
Now i know my 20 year old can put vym in fidelity for free
Can you guys plz do a full episode on the Roth Conversion Ladder?
Great questions from Allyson! I am going through this with my rollover. The old employer thought I am using ETFs on the old account, they want to liquidate my account before rolling it over. This creates up to 2 weeks of lag for the transfer where the investment is in cash while in transit. My question about Roth Conversion ladder: Does the 5 year clock start over on the 401k Roth original contribution when moved over to Roth IRA? Your channel is amazing and I look forward to the next question.
You both are very energetic and watching your videos make me also energetic. After watching your videos I wish to reach there soon. Very informative videos
If you transfer traditional 401k to traditional IRA you will have problems when you try to do backdoor Roth IRA contribution. #proratarule
Thanks Christina for providing the Fidelity total stock market index fund, FZROX, that's similar to Vanguard's.
Great information.
Interesting feedback! Thank you!
What's better the sp500 or total us stock market?
Wow, they are doing well, Bravo!
Saving to rewatch