Comments on: What to Do With My 401k After I Quit http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Wed, 16 May 2012 22:05:49 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Carolyn http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-76588 Carolyn Sun, 25 Mar 2012 17:20:45 +0000 http://moneyning.com/?p=1174#comment-76588 A portion of my 401k with my former employer contains pretax contributions and a the remainder is after tax. When i complete a rollover to an IRA is it necessary, or best to open two separate accounts for tax purposes (i.e. a roth and a traditional)? Thanks for your response in advance. A portion of my 401k with my former employer contains pretax contributions and a the remainder is after tax. When i complete a rollover to an IRA is it necessary, or best to open two separate accounts for tax purposes (i.e. a roth and a traditional)? Thanks for your response in advance.

]]> By: deb http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-75674 deb Fri, 16 Mar 2012 02:50:18 +0000 http://moneyning.com/?p=1174#comment-75674 I will be leaving my job in the summer to join a graduate school in the Fall. I have my 401k for a little over five years. Which is the best way to roll over my 401k fund? Thanks in advance. I will be leaving my job in the summer to join a graduate school in the Fall. I have my 401k for a little over five years. Which is the best way to roll over my 401k fund? Thanks in advance.

]]> By: taxquestion http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-72423 taxquestion Tue, 07 Feb 2012 21:44:58 +0000 http://moneyning.com/?p=1174#comment-72423 I changed emplyer and couldnt roll my 401K over but as soon as I got the check I put it back into my exisiting 401K plan, but my questions is.. since I've already filed my taxes do I need to amend my taxes as I need to report the 1099-R the employer sent me? how do I not get penalized by the IRS? I changed emplyer and couldnt roll my 401K over but as soon as I got the check I put it back into my exisiting 401K plan, but my questions is.. since I’ve already filed my taxes do I need to amend my taxes as I need to report the 1099-R the employer sent me? how do I not get penalized by the IRS?

]]> By: FMT http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-70513 FMT Fri, 20 Jan 2012 06:19:48 +0000 http://moneyning.com/?p=1174#comment-70513 Hi, I have my 401k for a little over two years.I am planning on moving out of state which means i will quit my job. I have no clue what to do with my 401k and how long I have to decide. Can you help? Hi, I have my 401k for a little over two years.I am planning on moving out of state which means i will quit my job. I have no clue what to do with my 401k and how long I have to decide. Can you help?

]]> By: MoneyNing http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-70353 MoneyNing Thu, 19 Jan 2012 00:22:23 +0000 http://moneyning.com/?p=1174#comment-70353 I would start calling the investment firm that your account was held at if you can find the account statements from the 90s. Otherwise, contact the factory and try to find the 401k/HR administrator to locate your account. I would start calling the investment firm that your account was held at if you can find the account statements from the 90s. Otherwise, contact the factory and try to find the 401k/HR administrator to locate your account.

]]> By: corrie http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-70332 corrie Wed, 18 Jan 2012 20:45:38 +0000 http://moneyning.com/?p=1174#comment-70332 I terminated a factory jobs back in 1997 to join the military. How do i find out if my 401k has money in it i was paying into it but honestly forgot. Please advise. I terminated a factory jobs back in 1997 to join the military. How do i find out if my 401k has money in it i was paying into it but honestly forgot. Please advise.

]]> By: jeromy http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-68684 jeromy Sat, 07 Jan 2012 03:03:42 +0000 http://moneyning.com/?p=1174#comment-68684 I had a loan out of my 401k and i quit my job and went to work at another company. I called fidelity to roll over my 401k from my previous employer to principal which is with my new employer. When i was talking to Fidelity they told me that since i had a 15,000$ loan out of my 401k i could take up to 99% of that amount and pay it to the IRS so i took that option and now people are telling me that they have never heard of anyone being able to do that. Did i get scammed? I had a loan out of my 401k and i quit my job and went to work at another company. I called fidelity to roll over my 401k from my previous employer to principal which is with my new employer. When i was talking to Fidelity they told me that since i had a 15,000$ loan out of my 401k i could take up to 99% of that amount and pay it to the IRS so i took that option and now people are telling me that they have never heard of anyone being able to do that. Did i get scammed?

]]> By: RenDav http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-67646 RenDav Sun, 01 Jan 2012 18:12:18 +0000 http://moneyning.com/?p=1174#comment-67646 Why, isn't diversity good? Why, isn’t diversity good?

]]> By: breebree http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-66725 breebree Tue, 27 Dec 2011 17:24:23 +0000 http://moneyning.com/?p=1174#comment-66725 Im going to be quiting my factory job . To fast past in two weeks. I have 401k over 100,000 . and i have a mortage of 45,000. should i pay off my mortage and save 35,000. in interest from my 401k then but the rest in a roth or ira account. because i will always have a roof over my head.and no mortage paymt and just pay the pentealy on 45,000 in taxes? Im going to be quiting my factory job . To fast past in two weeks. I have 401k over 100,000 . and i have a mortage of 45,000. should i pay off my mortage and save 35,000. in interest from my 401k then but the rest in a roth or ira account. because i will always have a roof over my head.and no mortage paymt and just pay the pentealy on 45,000 in taxes?

]]> By: Scott http://moneyning.com/401k/what-to-do-with-my-401k-after-i-quit/comment-page-1/#comment-61887 Scott Tue, 06 Dec 2011 21:01:37 +0000 http://moneyning.com/?p=1174#comment-61887 My last day with my employer was Nov. 9. I am down to two options for my 401k balance. 1. Keep with my old employer (per directions...do nothing). If I choose this, will I pass a certain deadline or opportunity to roll to another IRA or Plan if I change my mind. Leaning toward- 2. Rollover to a Traditional IRA for more choices- I have read that the Rollover IRA may be rolled to my next employer's 401K at any time so long as I do not contribute to the balance while between jobs. Is this true? My last day with my employer was Nov. 9. I am down to two options for my 401k balance.

1. Keep with my old employer (per directions…do nothing). If I choose this, will I pass a certain deadline or opportunity to roll to another IRA or Plan if I change my mind.

Leaning toward-
2. Rollover to a Traditional IRA for more choices- I have read that the Rollover IRA may be rolled to my next employer’s 401K at any time so long as I do not contribute to the balance while between jobs. Is this true?

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