What Do I Do With the 401(k) From My Old Job?

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Title	:	What Do I Do With the 401(k) From My Old Job?
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My wife got laid off due to COVID $7,000 in a 401k Should she still roll over her 401k or just withdraw with this "crash" coming
Comment from : Slappin Tv @99 Highlights

Thanks!!
Comment from : Fer du Port

What if your job don't do rollovers ? WHAT OPTIONS DO U HAVE
Comment from : Yanira Gonzalez

OMG, can you BE more condescending?
Comment from : espy

Roll it over Invest in diversified stock on your 401k NOT RISKY HIGH YIELD
Comment from : SR

Scolding ?
Comment from : Martin Krulock

There is one question that I have never been able to get the answer to regarding 401k to IRA roll overs Are 401k roll overs to IRA “in-kind”? The funds in my 401k are not available on the open market…so if I do a roll over, this would mean I would lose my cost basis as I roll into a new fund If I can’t roll the funds in-kind then it just doesn’t make a ton of sense
Comment from : Yellow Train

This woman thought she would get unbiased advice Instead, Dave wasted no time in doing a sales pitch to his "smartvestor pros" It's a simple question with a simple answer All she needs to do is either keep the $ in the 401k or roll it over to a Trad IRA with a low cost company like Vanguard
Comment from : David Cole

I wish he would of discussed the rule of 55 As most people don’t realize they can access funds in a 401k if they quit or get fired WITHOUT a penalty This woman was 58 and would have the ability to access funds prior to 59 1/2
Comment from : Joe Diamond

I think Dave might have missed something here I left a company and the representative of the 401K mailed me a check, full amount, in my name I went to the bank and opened an IRA and deposited the check At tax time, my CPA filed a form showing the roll over so I wouldn't be taxed 20 It worked
Comment from : Angela Laskodi

How long is the process to roll over anyone know? I’m going to leave a job after 6 y and I am looking for a job rn to replace it but I also don’t know what to do with the 401k :(
Comment from : SO HD

It's a little upsetting Dave turned this woman directly to Mutual Funds and made no mention of these other low fee/low risk/reliable investments called Index Funds Just straight to high risk/high cost/high reward investing? Most people (this woman included) aren't that good and managing their investments
Comment from : Hans Moleman

30 years and $85k? WowI've only invested for 10 years and have about $250k and fell I'm so far behind
Comment from : David

Why did I think she was going to have millions???
Comment from : Bobby B

i always roll into my IRA, far better investment options If i want to retire early on the rule of 55 my current employers 401k will suffice to buy me the 45 years until the IRA can be drawn on
Comment from : Jeff Morse

Can you get back to millionaire theme hours?
Comment from : ttu888didfitRhonda Vigil

If she were British I’d say open a SIPP With vanguard 🇬🇧
Comment from : Project Masculinity

A sweet lady
Comment from : JP Hickory

My company is canceling their 401k plan and my salary is higher then the IRA income limit What do I do?
Comment from : Steven

It's so depressing, 85k in her 401k after 30yrs working,
Comment from : Fokker4u

To only have 85k in her 401k after 30yrs is scary!
Comment from : Living Unashamed

Roll it to a Roth IRA Pay the taxes, you'll do great
Comment from : Zachary Buhler

She does not have to take the money out If the old company has good funds with low fees, she should leave it The next option is to open an IRA at a brokerage company like TD Ameritrade, Vanguard, etc There are many good companies out there Divide the money into 3-5 index funds like SPY, QQQ, etc Do that and she will be fine
Comment from : Raj Beekie

30 years and only has $85 k and I’m worried about $250 and I’ve been at my job 25 years This lady better start cracking down on saving more or she’s going to be in serious trouble come retirement
Comment from : Eddy Edwards

Just put it into a personal IRA, rollover you just dont touch it or have them send you a check Then open an IRA at Fidelity, Vanguard, ETrade or whereverbrYou dont need an investment guru Invest that money in a SP 500 ETF a Mid or Small cap ETF and call it a day
Comment from : Lianne459

If you like the funds and the fees are low keep it there
Comment from : Aaron Taylor

@4:17 "Does that all make sense in general?"brCaller after being overwhelmed: "yes sir it does"
Comment from : Justin Case

WowHow much commission does a SmartvesterPro ding this caller in commision? "The heart of a teacher" is a beautiful touch
Comment from : Justin Case

Look at the Rule of 55 I would rollover it into the next employers 401k
Comment from : Richard Gavel

80k?ive only har a 401k for 5 years and there's 50k in so far
Comment from : rookie adventurers

I rolled my old 401k into my new 401k, that way I could keep my traditional ira empty for back door Roth every year
Comment from : Robert Marlo

As long as you're not doing a backdoor Roth IRA, it's best to rollover from a 401(k) to an IRA to get a much larger selection of mutual funds If you are doing a backdoor Roth, then you need to keep the money in the 401(k)
Comment from : Brian Bagenstose

The 1 2 minutes were an informationbrBecause of that, that made the call sound scripted
Comment from : Saul Goodman

Just keep it in there They cannot force you to withdrawbrOr roll it over to your new 401k So this way you pay no taxes, when you do retire
Comment from : Saul Goodman

If you like the investments in your current 401k you can leave it Consider expense ratio Example: Vanguard Institutional shares, which a lot of 401k's use, is better than Admiral shares
Comment from : Shawn Michael

You may not need to move it from the company who is currently managing the 401k You will probably need to pay the Admin fees (if company paid in past) brbrYou may also want to check out self-directed or QRP IRAs and use them to invest in real estate for higher returns
Comment from : B Miller

take all that money and invest it into the newest trend bitcoin is a good 1
Comment from : M1a1 Abrams

Roll your 401K to your new job or roll it to an IRA in your name Don't cash it out unless you are past the retirement age Don't pay that 10 penalty!
Comment from : JM0NEY