How do I roll over a 401k from a job I just quit to an IRA? I'm fully vested and have about 25K?
599874
Any place that manages IRAs will help you do the rollover -- after all, they want your money!\n\nIf you're young and don't have any other investments, just put it all in stocks, preferably a stock index fund.  You want to look for a fund with the lowest costs.
991990
I have Principal 401K.  i think returns all depends on what your employers matches and of course each company has different guidelines.  My employer only matches up to 3%percent after a full year of employment.  The general rule is the more you put in the more you get later.  Given that i haven't been working for a year, it's more reasonable for me to put my savings into an Emigrant direct savings account which gives me a 4.25% yield.
1147141
At 23, time is your best friend (hooray compound interest).  Your best bet is to (if you haven't already,) open up and max out your Roth IRA.  This allows you to allow that compounding to work in a tax-free manner after you deposit. See what a difference that can make here: http://www.dinkytown.net/java/RothIRA.html\n\nIf you work for a company that provides matching funds for your 401(k) or similar retirement account, be sure to get the maximum match - it's free money! (that has to come from your income, but you can use your $10K to buffer your cost of living while you max your contributions).\n\nNote, it'll depend both on your capital gains, and the tax efficiency of your investments, but when I ran the numbers for myself, I found that I was much better off using my 401(k) for investment even though I plan on early withdrawal: http://randomfoo.net/blog/id/4087\n\n(Over a longer time-horizon, the tax efficiency is going to make a huge difference, plus you can also drastically rebalance with near impunity, tax free)\n\nRegardless of the type of account you put your money in, you still have to decide what you're going to invest in.  There aren't guaranteed returns, but for your goals (growth until eventual financial independence, yes?) you're best bet is probably a good index mutual fund. (You'll want to do your own research on this - although index funds are by definition 'average' they tend to provide total returns (after expenses) that beat the vast majority of mutual funds.  Here's one article to help you get started on why that's the case: http://www.fool.com/mutualfunds/indexfunds/indexfunds01.htm\n\nYour best course of action as you save towards financial independence is to continue investing (dollar cost averaging) and to diversify as your capital grows (bonds, international, REITs, metals) and to try to keep an eye towards what your goals are.  A good book on the subject matter is "You Money Or Your Life" by Domniguez and Robin, which talks less about investing (they suggest an extremely conservative approach), but more about a good basic mindset/framework for thinking about money.\n\nIf your goal is early retirement (reaching the point where you can live off your investments) you may also want to take a look at FIRECalc, an interesting early retirement calculator: http://fireseeker.com/ and the related Early Retirement forums (lurking and reading the archives is a good way to dip a toe in the water, so to speak): http://early-retirement.org/forums/
409788
No one can answer that question unless they know how old you are now and how old you will be when you retire. Also,one would have to know what kind of investments you chose for your 401K...\n\nAlso, whatever brokerage house you use for your 401K, usually have a free service to assist people with questions like this. \n\nAs soon as I retired (at 57) I rolled over my 401K from Chase(where it was performing dismally and being eaten away with hidden fees) to Fidelity, where it has continued to grow and without all the sneaky fees.And now at 62, I haven t had to touch the principal..just the interest..and I am making more now than when I worked!!\nProduct connected investment counselors should be avoided. I work with a person who takes a percentage of what I make! So, the better I do, the better he does. Its in his best interest to make me more money..
1069566
should not affect your unemployemnt (unless you are cashing out -- which is a terrible idea).  you need to set up a new IRA account -- go for a Roth IRA at a discount brokerage like Muriel Siebert, e-trade, charles schwa, usaa if you are military -- and have the new account contact your company to do the transfer -- if your company cuts you a check to then transfer funds to new brokerage firm you will get stuck with taxes -- serioulsy don't tap the 401k money, you will be penalized and that is needed to grow for your future -- good luck!
836184
I presume you're talking about a retirement account (401K or pension) you've got at an employer or perhaps an IRA at some financial instituion and you want to move it somewhere else.\n\nIn order to not have to pay big-time taxes and potentially penalties, your account monies need to be transferred to where you want them to go in a very strictly regulated way.  You'll need to talk to the financial institution where the money is right now and they should have some forms for you to fill out telling them where it needs to go.  Then, they should completely take it from there and the next thing you know, you shoul dbe receiving a notice from the institution you're moving the money to that they've got it there.\n\nIf on the other hand you choose to have them cut you a check that you hand carry or mail to the new institution, the law considers you have realized capital gains and you owe tax on it, even if you pop it right back into the new institution.\n\nThe law pertaining to this is typical pointless Federal bureaucracy that was intended to cvatch a few cheats.  Don't try to buck the law, have your current institution  handle it.
991333
Please talk to your 401K/IRA administator.  The rules are complex and you shouldn't trust the information you get from a bunch of strangers on the internet.  Good luck!
611435
Your company's 401k plan is a separate entity, apart from the company itself. Whether the new company will continue the plan is a question you need to ask your HR dept (or the new company's HR dept.). There is no requirement that they continue the old plan.\n\nYou should also check the plan's SPD - Summary Plan Description to see what it says.\n\nIn any case, the money would not revert back to the company.
800115
No you can not. You can roll into your new 401k, an IRA or other qualified retirement plan. You can NOT roll direct into a Roth IRA.\n\nAll the 401k rules can be found at:\n\nhttp://www.advancedwealthsolutions.com\n\nGood luck!
1130232
if you are the spouse and named as the primary beneficiary (not the estate), you can do a 'spousal rollover' into your own IRA and take the $ out over time or at your convenience. \n\nIf you are over 59 1/2 yrs old, distributions will not be subject to penalty. IF you are under 59 1/2, you can can substantially equal distributions over your lifetime and not pay a penalty. \n\nGetting money out of the IRA will always have income tax associated with it (unless the contributions were non-deductible).\n\n--\nAny tax advice included in this written communication was not intended or written to be used, and it cannot be used by the taxpayer, for the purpose of avoiding any penalties that may be imposed by any governmental taxing authority or agency.
215427
The answer is really up to your past employer, or more correctly the company that administers that old 401(K).  Contact them to find out their rules.  Usually, there is a deadline, which is by the end of the fiscal year in which you leave the company.  But you really should call them and get the answer in writing from them.\n\nBest of Luck.
1043156
All the brokerages you listed are expensive ( relatively ) in their commissions, especially if you're going to be trading stocks, often, instead of just buying funds and leave them for a while.\n\nIf this be the case, you will be better off, exploring other deep-discount brokerages...such as E*Trade, TD Ameritrade etc.\n\nIf you have sufficiant funds in your Rollover IRA ( > $50K for E*Trade ) the commission per trade is lot less than what you will pay in your list of brokerages.  I think it's $9.99 or something along that line, with almost all brokerages, per trade.\n\nThe commission is something that you should consider. Also, some of these companies charges few cents per share. Only the first 1000 shares are covered by their flat fee. Anything above that limit, you pay additional CENTS per share.\n\nAll the tools - charts, portfolio manager, research tools etc...are all kinda standard all over the place.\n\np.s.\nSince you're rolling over and NOT THRU' YOUR COMPANY 401(k) anymore...There is no more free lunch. You will pay $$$ per trade..So, give it some thought
742987
Check with your HR or Benefits department, but generally speaking you can not cash out your 401(k) unles you seperate from service first.  The only alternative is a loan, but that could become messy if you wind up leaving before you pay it back.\n\nIf somehow your plan allows early distributions prior to retirement or seperation of service, then the other answers are correct.  If you receive a check directly from the plan, then by law they have to withhold 20% for taxes.  The entire distribution will more than likely be taxable (if you have after tax contributions, then you pay no tax on those) and you will be subject to a 10% IRS penalty. \n\nIf you meet one of the qualifying distribution exceptions for IRAs (first time home purchase, medical expenses, college expenses, etc...) then if you roll your 401(k) into an IRA FIRST and then take a distribution you may be able to avoid the 10% penalty.  You also control the amount that is withheld, so you may be able to keep more of your money.  Again, this is usually only an option if you're over 59 1/2 or if you seperate from service i.e. quit or change jobs.  But you may be able to keep more of your money.  You can open a rollover IRA at any bank, find one that DOESN'T charge a fee for the account.
474413
It stays there until you move it.  You can roll it over to another 401k or IRA or withdraw it with tax consequences.
630556
You definitely want to roll it over to a self-directed IRA, where you'll be able to invest in stocks, bonds, mutual funds, annuities, and yes, even CDs.  Stay away from the bank, their idea of a good return on an IRA is a 5% CD. No one under 55 should ever have CD's in their IRA, it's a waste of both your age (which can be a powerful weapon) and the IRA's tax-deferred status.  CDs are for much older people, or for money that needs to remain somewhat liquid--which is something IRA money does not.\n\nDespite Scuhbby's inane assertion that the average mutual fund does 16-30% (no, the average mutual fund loses money), mutual funds are absolutely the way to go.  Pick a broadly diversifed mix of assets classes, cover all your bases, and remember to rebalance every year.  A financial advisor might be able to help you with this, but if you have the tools, talent, and time to do it yourself, go for it.  And oh yeah, the discipline, which is the most important.\n\nMake sure you hit all the asset classes, such as large-, mid- and small-cap stocks, international stocks, investment grade and hi-yield debt, foreign debt, commodities, real estate, and precious metals.  Come up with a mix you're comfortable with, and sit back.  A properly allocated diversified portfolio will average 8-12% return per year, on average, and you'll be able to take advantage of the IRA's tax-deferred status.\n\nMOST IMPORTANT, if you qualify income-level wise, IMMEDIATELY look into converting your IRA (once you've rolled over the 401k) to a ROTH IRA.  Thus, not only will your preserve your tax-exempt status year-to-year, you'll also ensure all future earnings will be 100% TAX-FREE.  Even a normal IRA/401k requires you to pay taxes when you take distributions.  Converting could have some current year tax consequences, so consult a financial advisor for your specifics, but in nearly every case I have found it to be worth it.\n\nHope this helps!\n--J.
1153541
1. Put money away in a 401K.   If your company matches it, you can make money on it right away.  Second, it reduces your taxable income (as you are not charged taxes on the money you save), and might put you in a lower tax bracket.  You can save $14,000 annually.\n\nTry $50 a month for starters.\n\nIf your company does not have a 401Kput money into a IRA.  Again, the money you put away is not taxed.  You can save up to $4000 annually.
1165838
The first question is whether the IRA contribution will be deductible to you. In 2006, if your AGI exceeds $75,000 (married) or $50,000 (single), the deductible contribution to IRAs starts to phase out. Don't do it if it isn't deductible.\n\nNext, how fast can you pay back the loan? Generally, a long-term loan, even to yourself, is not going to help you because the interest is not deductible.\n\nFinally, would taking a 401(k) loan stop you from making 401(k) contributions? Don't do anything that would stop that, and blow your employee match.