Comments on: 4 Reasons to Roll Over Your 401k http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Fri, 20 Nov 2009 20:48:42 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Hasham http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-38238 Hasham Thu, 01 Oct 2009 05:37:45 +0000 http://blog.mint.com/blog/?p=437#comment-38238 That's a well written article, not only are the advantages of rolling over to a single or traditional IRA immense, but you also get to choose between deductible & non-deductible 401k contributions. If you choose to rollover your 401(k) account to a traditional IRA, you can make two types of contributions, i) a deductible contribution where you can deduct from your income tax and ii) a non-deductible contribution where you can’t deduct your contributions from your income tax. Source: http://www.research401krollover.com/ The advantage of rolling to a deductible traditional IRA is that you can deduct your contributions from your income tax now. However, if you rollover to a non-deductible traditional IRA, you will not be able to deduct your contributions from your income tax now. However, there is always a reverse side. With a deductible IRA, you will have to pay income tax when you withdraw the funds upon retirement, typically at the age of 65. That’s a well written article, not only are the advantages of rolling over to a single or traditional IRA immense, but you also get to choose between deductible & non-deductible 401k contributions.

If you choose to rollover your 401(k) account to a traditional IRA, you can make two types of contributions, i) a deductible contribution where you can deduct from your income tax and ii) a non-deductible contribution where you can’t deduct your contributions from your income tax.
Source: http://www.research401krollover.com/

The advantage of rolling to a deductible traditional IRA is that you can deduct your contributions from your income tax now. However, if you rollover to a non-deductible traditional IRA, you will not be able to deduct your contributions from your income tax now. However, there is always a reverse side. With a deductible IRA, you will have to pay income tax when you withdraw the funds upon retirement, typically at the age of 65.

]]> By: Pat http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-33843 Pat Sun, 02 Aug 2009 14:20:23 +0000 http://blog.mint.com/blog/?p=437#comment-33843 If you are retiring and are 55 or older but not yet 59 and a half, you may want to wait to rollover your 401k balance to an IRA. You won't be able to access the IRA funds without paying a penalty but if you can acccess the 401k funds if you terminate service after the year in which you turn 55. If you are retiring and are 55 or older but not yet 59 and a half, you may want to wait to rollover your 401k balance to an IRA. You won’t be able to access the IRA funds without paying a penalty but if you can acccess the 401k funds if you terminate service after the year in which you turn 55. ]]> By: Pat http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-33842 Pat Sun, 02 Aug 2009 14:10:11 +0000 http://blog.mint.com/blog/?p=437#comment-33842 You are right - you want to contribute enough to your 401k to obtain your employer's match. Generally, you cannot rollover from your current 401k to an IRA until you leave your current employer. You are right – you want to contribute enough to your 401k to obtain your employer’s match. Generally, you cannot rollover from your current 401k to an IRA until you leave your current employer. ]]> By: JP http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-33801 JP Fri, 31 Jul 2009 17:30:32 +0000 http://blog.mint.com/blog/?p=437#comment-33801 So true. My ex-employer's plan has NO fees (even as an ex-employee, which I've been for almost two years not) whereas an individual IRA might and I know my current employer's plan does. Since I haven't lost any access privileges to my old account (including changing how the funds current there are invested among the plan's fund choices, which are fine with me), where is my incentive to move the money anywhere else at the moment? So true. My ex-employer’s plan has NO fees (even as an ex-employee, which I’ve been for almost two years not) whereas an individual IRA might and I know my current employer’s plan does. Since I haven’t lost any access privileges to my old account (including changing how the funds current there are invested among the plan’s fund choices, which are fine with me), where is my incentive to move the money anywhere else at the moment? ]]> By: Concerned http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-32510 Concerned Fri, 26 Jun 2009 17:59:30 +0000 http://blog.mint.com/blog/?p=437#comment-32510 Timely push on rolling over 401(k)s -- especially in light of the article on the WSJ this week, "The 401(k) Rollover Conundrum" at http://online.wsj.com/article/SB124594605748554567.html Tell me - what are my 401(k) fees? How can you justify telling me I am paying too much when you cannot quantify my existing fees? I believe it is highly irresponsible to post alerts driving the rollover of 401(k)s on the basis of "high fees" when you clearly are not doing the work the alert implies. Tell me how this was not purely self serving? Timely push on rolling over 401(k)s — especially in light of the article on the WSJ this week, “The 401(k) Rollover Conundrum” at http://online.wsj.com/article/SB124594605748554567.html

Tell me – what are my 401(k) fees? How can you justify telling me I am paying too much when you cannot quantify my existing fees?

I believe it is highly irresponsible to post alerts driving the rollover of 401(k)s on the basis of “high fees” when you clearly are not doing the work the alert implies.

Tell me how this was not purely self serving?

]]> By: MCNB http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-31765 MCNB Mon, 01 Jun 2009 08:51:03 +0000 http://blog.mint.com/blog/?p=437#comment-31765 Why be automatically biased against 401(k)s? My old company's 401(k) has much lower fees on some index funds than even Vanguard because they have institutional deals. Quality advice would be to compare fees and funds, not to just advise to ditch a 401(k). I would not trust your company to manage my money if you cannot try to be honest from the start. Why be automatically biased against 401(k)s? My old company’s 401(k) has much lower fees on some index funds than even Vanguard because they have institutional deals. Quality advice would be to compare fees and funds, not to just advise to ditch a 401(k). I would not trust your company to manage my money if you cannot try to be honest from the start. ]]> By: Bill http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-29685 Bill Sat, 14 Mar 2009 16:04:57 +0000 http://blog.mint.com/blog/?p=437#comment-29685 I am new on this. How much can we (I and my wife) can roll over from 401 to an IRA account. All? or an X amount a year? Thanks. I am new on this. How much can we (I and my wife) can roll over from 401 to an IRA account. All? or an X amount a year? Thanks. ]]> By: Robert http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-28270 Robert Thu, 25 Dec 2008 18:55:27 +0000 http://blog.mint.com/blog/?p=437#comment-28270 You all really should call Fidelity, T. Rowe Price, or Vanguard and talk to them for free instead of listening to a person on a website. Talk to a real person at those institutions and get an honest opinion... everybody's situation is different and it's irresponsible giving advice to anyone without having more detail.. You all really should call Fidelity, T. Rowe Price, or Vanguard and talk to them for free instead of listening to a person on a website. Talk to a real person at those institutions and get an honest opinion… everybody’s situation is different and it’s irresponsible giving advice to anyone without having more detail.. ]]> By: henry http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-27446 henry Mon, 10 Nov 2008 04:43:16 +0000 http://blog.mint.com/blog/?p=437#comment-27446 I have a 401k right now and my employer is matching this. If i rollover it into an IRA, would it mean I will soley continue funding my investment and lost my employer's participation? I like the advantages that you can get from IRA (low fees, broader portfolio) but on the other hand I don't want to loose free money that my company is giving me...like at least $200.00/mo.(this for me is a real advantage). Please Advice. Thanks I have a 401k right now and my employer is matching this. If i rollover it into an IRA, would it mean I will soley continue funding my investment and lost my employer’s participation? I like the advantages that you can get from IRA (low fees, broader portfolio) but on the other hand I don’t want to loose free money that my company is giving me…like at least $200.00/mo.(this for me is a real advantage). Please Advice. Thanks ]]> By: Edwin http://www.mint.com/blog/finance-core/4-reasons-to-roll-over-your-401k/comment-page-1/#comment-27432 Edwin Sat, 08 Nov 2008 06:45:14 +0000 http://blog.mint.com/blog/?p=437#comment-27432 Great article. I never knew about this option when switching jobs. The tool is neat too, showing how much I could possibly save. (found this article from the Mint weekly updates email) Great article. I never knew about this option when switching jobs. The tool is neat too, showing how much I could possibly save.

(found this article from the Mint weekly updates email)

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