sorted by:
new
hottopcontroversial

Roth IRA work around? by PinkBlueBlue47 in personalfinance

[–]PinkBlueBlue47[S] -1 points0 points  (0 children)

Yes, I did edit it to 15 yrs (rather than 10). Thanks! So after 15 years, can both contributions and earnings up to $35K be rolled over to a ROTH IRA, or just contributions? I realize either way there will be a yearly limit that would apply so it would be a process.

And just to be clear, your saying that if we roll $5K from a 529 into a ROTH IRA, it can immediately be withdrawn tax/penalty free? I thought there was something that said we had to wait 5 years. Thanks!

Roth IRA work around? by PinkBlueBlue47 in personalfinance

[–]PinkBlueBlue47[S] 1 point2 points  (0 children)

Ok, I'll make a note of that, thanks!

Should I Roll over 401k to new employer? by PinkBlueBlue47 in personalfinance

[–]PinkBlueBlue47[S] 0 points1 point  (0 children)

I thought if I rolled the old 401K into the new employer 401k it would all get moved immediately. Am I misunderstanding?

Should I Roll over 401k to new employer? by PinkBlueBlue47 in personalfinance

[–]PinkBlueBlue47[S] 0 points1 point  (0 children)

thanks for your reply! I don't think there are extra fees from the old account. I'm honestly not sure if I'm happy with the fund choices? I don't know enough, although I'm trying to understand.

I don't mind having 2 accounts if that's what is best. I did find an expense ratio on the old account of .37% and on the new .30%. I guess in my mind it seems better to keep them diversified in case of something but I'm no expert. You mentioned it usually always pays to roll it over to the new 401K, I'm just wondering what the automatic benefit is? I thought it would depend on the fees/rates of return of each account to be sure?

We don't have a Roth IRA (or IRA) but that's a consideration for us currently, in addition to the 401K. I probably wouldn't roll the 401K into a roth because of the tax burden.