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  1. #76
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    Jan 2005
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    Access to Granlibakken
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    10,511
    Seems legit

  2. #77
    Join Date
    Dec 2012
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    I can still smell Poutine.
    Posts
    21,237
    Buy Rubles.

  3. #78
    Join Date
    Apr 2004
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    Southeast New York
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    10,558
    Wait a few more days (weeks?)

  4. #79
    Join Date
    Feb 2012
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    636
    Quote Originally Posted by riser4 View Post
    Buy Rubles.
    Like they say over in the bitcoins thread, buy the dip, eh comrade?

  5. #80
    Join Date
    Apr 2008
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    Treading Water
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    6,233
    I bought more I-Bonds today.
    However many are in a shit ton.

  6. #81
    Join Date
    Dec 2012
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    I can still smell Poutine.
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    Quote Originally Posted by dannynoonan View Post
    Like they say over in the bitcoins thread, buy the dip, eh comrade?
    Yup.

  7. #82
    Join Date
    Feb 2022
    Posts
    14
    I-bonds are a good move right now but you're limited with a max contribution.

    I think some of the tech stocks have sold off too far, but who knows. I like META, I think they're R&D in Oculus and VR will go a long way.

  8. #83
    Join Date
    Oct 2003
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    slc
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    16,571
    New job: Roll existing 401k into new company's 401k, or into an IRA and start the new 401k from scratch?

  9. #84
    Join Date
    Jan 2008
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    Big Sky/Moonlight Basin
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    13,271
    Quote Originally Posted by Dantheman View Post
    New job: Roll existing 401k into new company's 401k, or into an IRA and start the new 401k from scratch?
    I see zero upside to give your existing 401K money to your new employer. Same for leaving it with your old employer.

    Roll it into an IRA so that YOU control it.


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    "Zee damn fat skis are ruining zee piste !" -Oscar Schevlin

    "Hike up your skirt and grow a dick you fucking crybaby" -what Bunion said to Harry at the top of The Headwaters

  10. #85
    Join Date
    Sep 2004
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    LV-426
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    20,086
    Quote Originally Posted by Harry View Post
    I see zero upside to give your existing 401K money to your new employer. Same for leaving it with your old employer.

    Roll it into an IRA so that YOU control it.


    Sent from my iPad using TGR Forums
    Generally, that's probably the right move.

    Couple things to consider: whether your old employer's 401k has lower fee offerings vs new/IRA (eg institutional funds) - and same Q for new employer's 401k. Also whether old employer's 401k allows you to continue to hold your $ there without charging you for the maintenance fees. Also what the choice of funds are in new vs old employer 401k. Also whether new employer's 401k even allows you to do roll-in contributions. Also there are withdrawal rules that are beneficial to a 401k vs IRA (eg, if you leave the employer during the year you turn age 55, you can withdraw from that employer's 401k without penalty - but only that employer you just left, and not earlier 401k - and for future planning, IRAs have age 70 minimal withdrawal requirements).

    Most likely the IRA rollover will be the best suited choice. But not an absolute.
    Quote Originally Posted by powder11 View Post
    if you have to resort to taking advice from the nitwits on this forum, then you're doomed.

  11. #86
    Join Date
    Jul 2016
    Location
    Mostly the Elks, mostly.
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    1,157
    Quote Originally Posted by Dantheman View Post
    New job: Roll existing 401k into new company's 401k, or into an IRA and start the new 401k from scratch?
    My job pays all the fees for fund administration and offers free consulting and investment help. I dunno what it'd cost otherwise, but I tell myself that it all adds up. Not sure if you'd have a vesting schedule, but that'd prob only be for the funds they contributed.
    In my case it was worth transferring it to new job, but ymmv.
    north bound horse.

  12. #87
    Join Date
    Dec 2009
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    The Mayonnaisium
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    Chup makes good points and I'll add one. Rolling into your new company's 401k is relevant if you take it in the backdoor (NTTIAWWT). Rollover IRAs complicate taxes in backdoor moves.

  13. #88
    Join Date
    Oct 2007
    Posts
    11,811
    Quote Originally Posted by El Chupacabra View Post
    Generally, that's probably the right move.

    Couple things to consider: whether your old employer's 401k has lower fee offerings vs new/IRA (eg institutional funds) - and same Q for new employer's 401k. Also whether old employer's 401k allows you to continue to hold your $ there without charging you for the maintenance fees. Also what the choice of funds are in new vs old employer 401k. Also whether new employer's 401k even allows you to do roll-in contributions. Also there are withdrawal rules that are beneficial to a 401k vs IRA (eg, if you leave the employer during the year you turn age 55, you can withdraw from that employer's 401k without penalty - but only that employer you just left, and not earlier 401k - and for future planning, IRAs have age 70 minimal withdrawal requirements).

    Most likely the IRA rollover will be the best suited choice. But not an absolute.
    Good info. Also, I think that there is a waiting period before you can transfer those funds out of the 401K to a new account 401k/or IRA. I remember that when I had to do it once. Ended up returning to the first job anyway so never transferred the money.

  14. #89
    Join Date
    Mar 2006
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    Beaverton, OR
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    1,318
    Quote Originally Posted by Dantheman View Post
    New job: Roll existing 401k into new company's 401k, or into an IRA and start the new 401k from scratch?
    FYI

    If you play or plan to play the backdoor roth conversions money in a self-directed IRA go againtst tax calculations whereas 401K doesn't. If everything is in 401K, then an immediate conversion is essentially $0 tax bill.

  15. #90
    Join Date
    Feb 2012
    Posts
    9,774
    One upside to a rollover is the 401k loan or hardship withdrawals. In most cases you can borrow 50% of your vested balance. All rollover funds are immediately vested. Used a 401k loan to help put a down payment on my new house, then paid it off after I sold my old house.

    Nice option to have if needed.


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  16. #91
    Join Date
    Dec 2009
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    The Mayonnaisium
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    Quote Originally Posted by AK47bp View Post
    One upside to a rollover is the 401k loan or hardship withdrawals. In most cases you can borrow 50% of your vested balance. All rollover funds are immediately vested. Used a 401k loan to help put a down payment on my new house, then paid it off after I sold my old house.
    Quite risky but works out in some cases. Was the interest rate you paid roughly the same as market rates for similar loans? Did the interest you paid go into your account (paying yourself interest) or did the interest paid go to a third party (administrator, bank, etc.)?

  17. #92
    Join Date
    Feb 2012
    Posts
    9,774
    Quote Originally Posted by Mazderati View Post
    Quite risky but works out in some cases. Was the interest rate you paid roughly the same as market rates for similar loans? Did the interest you paid go into your account (paying yourself interest) or did the interest paid go to a third party (administrator, bank, etc.)?
    401k loan interest goes back to the participant. So you essentially pay yourself back. All this is easily setup with payroll deductions from your employer.

    The 401k record keeper likely charges a small loan application fee ($25-$50) but they donít receive interest. At least the plans Iíve been on.

    I canít recall the rate I paid but it was right around prime at the time. (3%-5%)

    Great option to have access to your own money in a pinch.


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  18. #93
    Join Date
    Oct 2003
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    slc
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    16,571
    Quote Originally Posted by El Chupacabra View Post
    Generally, that's probably the right move.

    Couple things to consider: whether your old employer's 401k has lower fee offerings vs new/IRA (eg institutional funds) - and same Q for new employer's 401k. Also whether old employer's 401k allows you to continue to hold your $ there without charging you for the maintenance fees. Also what the choice of funds are in new vs old employer 401k. Also whether new employer's 401k even allows you to do roll-in contributions. Also there are withdrawal rules that are beneficial to a 401k vs IRA (eg, if you leave the employer during the year you turn age 55, you can withdraw from that employer's 401k without penalty - but only that employer you just left, and not earlier 401k - and for future planning, IRAs have age 70 minimal withdrawal requirements).

    Most likely the IRA rollover will be the best suited choice. But not an absolute.
    Awesome, thanks. Haven't signed up for benefits yet so I don't know how fees compare or if roll-in is allowed. Good to know that IRA conversion is usually the best option.

  19. #94
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    Oct 2003
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    slc
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    Quote Originally Posted by Mazderati View Post
    Chup makes good points and I'll add one. Rolling into your new company's 401k is relevant if you take it in the backdoor (NTTIAWWT). Rollover IRAs complicate taxes in backdoor moves.
    What's the back door?

  20. #95
    Join Date
    Dec 2009
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    The Mayonnaisium
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    10,039
    Quote Originally Posted by Dantheman View Post
    What's the back door?
    Traditional to Roth IRA backdoor conversion. Useful in some circumstances. Existence of a rollover IRA has (negative for you) tax implications. If you don't plan to complete a backdoor conversion none of this matters.

  21. #96
    Join Date
    Apr 2006
    Location
    Movin' On
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    3,458
    ^Backdoor Roth IRA is a way to get money into a Roth IRA for people who have income too high for a regular Roth IRA and often for people who have income high enough to not benefit from tax advantages of a traditional IRA.

    You have to put money into a traditional IRA, then roll it over into a Roth IRA. The issue is that the the traditional IRA needs to be a zero balance before and after the rollover or it complicates things from a tax standpoint.

    TLDR- a backdoor Roth IRA is a way to get $6k per year into a Roth IRA if your income is otherwise too high for a regular Roth IRA.

    I utilize a backdoor Roth IRA, so instead of rolling old 401Ks into an IRA or rolling them into my employer's 401k, I created a self directed 401k and rolled into that. It was pretty easy to set up.


    I really wish my employer allowed mega backdoor Roth conversions out of the 401k. That's my personal finance white whale. It is a huge benefit if you are already maxing 401k, IRA and HSA contributions and then continuing to invest in a taxable brokerage account.

  22. #97
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
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    10,039
    Quote Originally Posted by AK47bp View Post
    401k loan interest goes back to the participant. So you essentially pay yourself back. All this is easily setup with payroll deductions from your employer.

    The 401k record keeper likely charges a small loan application fee ($25-$50) but they don’t receive interest. At least the plans I’ve been on.

    I can’t recall the rate I paid but it was right around prime at the time. (3%-5%)

    Great option to have access to your own money in a pinch.
    Good to know about the process and payback.

    My comment about risk relates to the potential for a called loan at what could be a very inopportune time; leaving a job or being fired from it. Options are good. I'm sure there is nuance.

  23. #98
    Join Date
    Feb 2012
    Posts
    9,774
    Quote Originally Posted by Mazderati View Post
    Good to know about the process and payback.

    My comment about risk relates to the potential for a called loan at what could be a very inopportune time; leaving a job or being fired from it. Options are good. I'm sure there is nuance.
    Oh yea. If youíre fired or quit the option is to pay it back in full immediately or it becomes a taxable distribution with possible penalties depending on your age.


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  24. #99
    Join Date
    Feb 2012
    Posts
    9,774
    Quote Originally Posted by Kevo View Post
    ^Backdoor Roth IRA is a way to get money into a Roth IRA for people who have income too high for a regular Roth IRA and often for people who have income high enough to not benefit from tax advantages of a traditional IRA.

    You have to put money into a traditional IRA, then roll it over into a Roth IRA. The issue is that the the traditional IRA needs to be a zero balance before and after the rollover or it complicates things from a tax standpoint.

    TLDR- a backdoor Roth IRA is a way to get $6k per year into a Roth IRA if your income is otherwise too high for a regular Roth IRA.

    I utilize a backdoor Roth IRA, so instead of rolling old 401Ks into an IRA or rolling them into my employer's 401k, I created a self directed 401k and rolled into that. It was pretty easy to set up.


    I really wish my employer allowed mega backdoor Roth conversions out of the 401k. That's my personal finance white whale. It is a huge benefit if you are already maxing 401k, IRA and HSA contributions and then continuing to invest in a taxable brokerage account.
    I know some people using the turbo Roth options combined with being 50+ and maxing out all the contributions can actually get $64,500 in their 401k accounts. At least back in 2021


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  25. #100
    Join Date
    Apr 2006
    Location
    Movin' On
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    3,458
    Quote Originally Posted by AK47bp View Post
    I know some people using the turbo Roth options combined with being 50+ and maxing out all the contributions can actually get $64,500 in their 401k accounts. At least back in 2021


    Sent from my iPhone using TGR Forums
    Yep. That's the dream.

    My company has everything set up to allow this except a few payroll people who do not understand how to allow for after-tax contributions. Everything else is in place and it is so frustrating.

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