Title | : | What Do I Do With the 401(k) From My Old Job? |
Lasting | : | 6.54 |
Date of publication | : | |
Views | : | 123 rb |
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What can you do if you are leaving Walmart for a much better job BUT you have an outstanding loan balance on your 401K? I do want my first ROTH IRA and another brokerage account Comment from : Ian Scianablo |
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I’m 37 with $180k in my 401k I want to explore options, i don’t want to Rollover to my next company 401k I would like to purchase a property anything but to get the most out of my money legally Comment from : Juan Pelayo |
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how much does it cost to talk to pro about transfering your 401K to a Roth and signing all the correct forms? Comment from : D O |
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The short answer is rollover to a Ira roth or traditional Call fidelity they will walk you through it for free Comment from : Roger |
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I have about 200k in my 401k from GM When I quit I kept it in there because I like the investment options and I am able to take loans on it and pay myself back with interest I would rather have that option than putting it into an IRA Comment from : Frank Garcia |
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Great video! game changer, the 401k is good, because retirement choices determine a lot of things My parents spent same number of years working desk job, but my mom was investing through a financial manager, and my dad through the 401k My mom retired with over $4 million, whereas my dad retired with almost $2 million It is your choice on what to pick As for me I will always go with the financial manager Comment from : Amanda Louise Medford |
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I'm still at a crossroads deciding if to invest $400k on my stock portfolio what’s the best way to take advantage of the market? Comment from : Michael Brenner |
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It depends on the company I had a 401k through fidelity in my old job and the way they roll over is by sending you a check directly but paid to the new company where you are going to hold your new 401k or ira Comment from : IMDOC78 |
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Instead of spending all that money I'm fees with smartvestor pro Just use fidelity go First 25k is fee free Everything after that is at a low low fee of just 25 Comment from : mike laba |
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Advice was to hire a Ramsey employee 😜 Comment from : BB-13 |
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Don't you always have to pay taxes on the amount you rollover from a 401k to a Roth IRA? Comment from : Evan Cudaback-Siou |
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Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns This means that over time, your investment can grow exponentially So the earlier you start investing, the more time your investment has to grow through compounding Comment from : Aziz Einas |
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85k after 30yrs? 🧐🧐🧐🧐 Comment from : Top Self |
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I figured this would turn into a sales pitch for financial advisors who have paid to be in the Ramsay club And only 80k after 30 years? Comment from : Eric Connelly |
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Terrible explanation Dave lol Comment from : Kyle McLaughlin |
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401K is a scam The average balance on it at retirement is between $70K-$90K Comment from : MikeTheYungGod |
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Hey I agree totally with him on this one! Happening to many I know right now Comment from : Bill Tatum |
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GET TO THE POINT!!! Comment from : Sean Garcia |
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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 : 99 Highlights @Slappin Tv |
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Thanks!! Comment from : Fer du Port |
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What if your job don't do rollovers ? WHAT OPTIONS DO U HAVE Comment from : Yanira Gonzalez |
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OMG, can you BE more condescending? Comment from : espy |
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Roll it over Invest in diversified stock on your 401k NOT RISKY HIGH YIELD Comment from : dude |
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Scolding ? Comment from : Martin Krulock |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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Why did I think she was going to have millions??? Comment from : Ratoi Lineberger |
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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 |
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Can you get back to millionaire theme hours? Comment from : ttu888didfitRhonda Vigil |
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If she were British I’d say open a SIPP With vanguard 🇬🇧 Comment from : Project Masculinity |
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A sweet lady Comment from : JP Hickory |
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To only have 85k in her 401k after 30yrs is scary! Comment from : Living Unashamed |
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Roll it to a Roth IRA Pay the taxes, you'll do great Comment from : Zachary Buhler |
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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 |
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If you like the funds and the fees are low keep it there Comment from : Aaron Taylor |
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@4:17 "Does that all make sense in general?"brCaller after being overwhelmed: "yes sir it does" Comment from : Justin Case |
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WowHow much commission does a SmartvesterPro ding this caller in commision? "The heart of a teacher" is a beautiful touch Comment from : Justin Case |
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Look at the Rule of 55 I would rollover it into the next employers 401k Comment from : Richard Gavel |
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80k?ive only har a 401k for 5 years and there's 50k in so far Comment from : rookie adventurers |
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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 |
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The 1 2 minutes were an informationbrBecause of that, that made the call sound scripted Comment from : Saul Goodman |
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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 |
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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 |
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take all that money and invest it into the newest trend bitcoin is a good 1 Comment from : M1a1 Abrams |
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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 |
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Sell it and buy a vehicle Comment from : Dissident Podcast Clips |
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Underwhelming video Just let Dave investment partners manage your funds for a percentage Lol please don't Comment from : Dann Goral |
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