In This Episode:
Got an old 401(k) collecting dust after a job change? You’re not alone, and what you do with that account might have a big impact on your long-term financial health. In this episode, Ryan answers a listener’s question about whether it’s okay to leave your 401(k) where it is, or if you’re better off rolling it over. Spoiler alert: the answer isn’t one-size-fits-all, but there are some key pros and cons you need to know.
Ryan explains how to evaluate your options, from rolling funds into an IRA for greater flexibility to considering in-service distributions while you’re still working. He also breaks down common mistakes, like mishandling Roth dollars or underestimating fees, and offers clear. If you’re ready to tidy up your financial game plan and get the most out of your old accounts, this conversation might help point you in the right direction.
Here’s what we discuss in this episode:
📂 Should you roll over that old 401(k)?
🕵️ Hidden fees and forgotten accounts
⚠️ Potential risks of defaulting to target date funds
🔄 What are in-service distributions?
0:00 – Intro
0:29 – Listener 401(k) question
3:23 – Best Options
4:23 – Tax Implications
6:23 – How To Choose Investments
8:01 – Rolling Over While Still Employed at the Company
In This Episode:
Got an old 401(k) collecting dust after a job change? You’re not alone, and what you do with that account might have a big impact on your long-term financial health. In this episode, Ryan answers a listener’s question about whether it’s okay to leave your 401(k) where it is, or if you’re better off rolling it over. Spoiler alert: the answer isn’t one-size-fits-all, but there are some key pros and cons you need to know.
Ryan explains how to evaluate your options, from rolling funds into an IRA for greater flexibility to considering in-service distributions while you’re still working. He also breaks down common mistakes, like mishandling Roth dollars or underestimating fees, and offers clear. If you’re ready to tidy up your financial game plan and get the most out of your old accounts, this conversation might help point you in the right direction.
Here’s what we discuss in this episode:
📂 Should you roll over that old 401(k)?
🕵️ Hidden fees and forgotten accounts
⚠️ Potential risks of defaulting to target date funds
🔄 What are in-service distributions?
0:00 – Intro
0:29 – Listener 401(k) question
3:23 – Best Options
4:23 – Tax Implications
6:23 – How To Choose Investments
8:01 – Rolling Over While Still Employed at the Company
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