2007-02-04 23:59:00 · 7 answers · asked by Tricia 2 in Business & Finance ➔ Personal Finance
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They have 401K rollovers. They should be able to help you out! Make sure they handle all of your paperwork, otherwise, you may end up taking a tax hit. If it is a transfer of the account from your current account holder to another brokerage firm, there shouldn't be any tax.
If you have over $5,000 in your 401K plan, you should be able to keep the money there, as long as you are satisfied with their investment options, l I see no real reason to transfer the account.
2007-02-05 02:51:25 · answer #1 · answered by Blicka 4 · 1⤊ 1⤋
Def an IRA. But you may want to consider rolling to a traditional IRA and then a Roth IRA. While your 401k and a traditional IRA are both tax deferred, you may want to pay the penalties now, and go to a Roth depending on your age. Why? Do you think that taxes are going to be higher or lower when you retire? My guess is higher, so the Roth would let that money grow tax free, and when you retire whatever's in it is there. No taxes to worry about later.
2007-02-05 08:46:06 · answer #2 · answered by dan h 2 · 1⤊ 0⤋
Firstly your age would determine what will be most profitable for you (stock options, money market or mutual funds). What do you really love to do or have a passion.
Anything you'll do without a wage would be the best for you if you intend to start-off on your own. Working for yourself has proven to be the most profitable venture of all time so you could consider starting a business based on your passion combined with your present skills.
If you're pretty young, you could consider investing in skill acquisition to further improve your self worth and job seeking capabilities.
2007-02-05 08:13:58 · answer #3 · answered by Anonymous · 1⤊ 0⤋
401k accounts can be rolled into a tradional IRA account without incurring a tax penatly since both accounts are tax defered.
2007-02-05 08:11:06 · answer #4 · answered by wavracr 2 · 1⤊ 0⤋
I would suggest talking to a local company or your bank about a possible IRA account.
2007-02-05 08:06:27 · answer #5 · answered by tinbarnprimitives 2 · 2⤊ 0⤋
Call fidelity investments and ask them how you can role it into an IRA plan.
2007-02-05 08:07:04 · answer #6 · answered by Westport 2 · 2⤊ 0⤋
hahaha! are you single??? if you are then you wont be for long now after advertising that fact!
2007-02-05 08:03:02 · answer #7 · answered by im*horny 3 · 0⤊ 4⤋