After tax 401k distribution messing up backdoor Roth At the beginning of this year I made a backdoor Roth contribution to my IRA. At the time, I had 0$ in my traditional IRA account. So far, so good. A month or so ago, I rolled over my after tax 401k account into my IRA (basically a MBDR). The contributions went to my Roth IRA while the earnings went to my traditional IRA. Ideally, I would have do…

Should I split my 401K investment from a target date fund to S&P 500? I’m (30M) recently thinking of either splitting or completely swapping my current 401K 2060 Target Date Fund (RFUTX) to an S&P 500 index fund (FXAIX) option offered by my company instead. My current cost basis in the target date fund is a little over $48K and valued currently at about $58K. The fund is split 60% domestic 25% foreign, 7% domestic…

What does this letter about my 401k mean? I received this from my previous employer. I have a 401k through them and when I started at my new employer, I am not eligible for their 401k until I’ve been there for a year (December) so I was planning on just letting this sit in the meantime. Should I let it roll over into the IRA? There is much more than $7k in there. https://ibb.co/JkLGK…

Should I take the 401k match I recently switched jobs and have the option to take the 401k match (4%) that vests at the end of my second year. I also have the option to do a Roth 401k. My first job had a roth 401k on the same service. (ADP) Should I take the match and contribute to the regular 401k or rollover my previous jobs Roth and continue to contribute to that? I curr…

37, no IRA, no 401k. would like to start now. need advice. Hi everyone – pretty ashamed to say I have not been contributing to prepare for my future retirement. I’ve been making 150K a year and most of it has gone to a HYSA. My wife and I make a combined 280-290K per year pre-tax, and it says online that income bracket would not allow me to make contribution to a Roth IRA. Currently employer does not ma…

Help, should I pause my 401k contribution My other half recently developed a rare chronic pain condition which is preventing her from working. Before we would split our shelter costs and food, but now that she can’t work, I have been paying the expenses. I also had to add her on to my insurance, because most of the good doctors in our area don’t take medicaid. My employer charges $400/m…

Is it smart to have a Traditional and a Roth 401k? I live in a state that has income tax and make $15 an hour full time. My company matches up to 3% of my check. If put 3% each into a pre-tax and a roth account, that’s twice as much as I need to put to get matched. My question is since I’m in a low tax bracket would it be smart to do just a roth? Or since I don’t want to take my money out until …

Employer Sponsored 401k – Choosing Funds Hi everyone, I’m looking for some advice on choosing funds for my 401k contributions. I’m still young, so I want to invest aggressively since I’m looking at retirement in 20+ years. I’m still learning the ropes and trying to figure out what would be best for long-term investing until retirement. My current plan is an auto-selected one based on a…

What to do as the beneficiary of a 35k 401k My mother passed away and I am one of the beneficiaries of her 401k, my split is around $35,000. What is the smartest/ most tax advantaged move to make with it? I don’t currently have a 401k of my own, but am going to be starting a new job this month that matches up to 3% of my contribution. I do have a Roth IRA through Fidelity with about $16…

In what case is it better to move 401k to IRA? I have 3 401k from 3 different employers in the past that just sit and roll and compound. Two are fidelity and one is principal. In my opinion they offer pretty good range of fund choices so I’m not sure if I ABSOLUTELY need to move them over to active ira account but as I was thinking about it, it is just a bit hassle to manage 3 different 401k…

Should I pause my 401k match to rebuild emergency savings? Recently due to a few factors our emergency savings were wiped out. I currently save 6% of my income into a 401k & my company match is 4% (tiered though, so to get full match must contribute 6%). As the title says, should I pause my 401k match to get some savings built back up? I have a pretty decent income $90k-$100k range, so we have good inco…

move an older 401k account to IRA I have a 401k from an former employer that i left 5 years ago. I didn’t transfer that within the 60 day grace period or so after leaving the job. When will i get a chance to move the money in that account to another IRA. These folks charge a lot of fees and want to avoid that. submitted by /u/Shot_Negotiation_680

83k in old employers 401k. Seeking advice. 43 yr old. I still have a 401k in my old employers 401k. 43 years old , still in the same industry ( making more $) and have a 401k with my new employer. Married 2 kids. Financially we are in a very comfy middle-class lifestyle. Generally consider myself fortunate. I am a novice when it comes to this stuff. Any thoughts feelings on this. For clarity the …

What happens to my funds in my old 401K when rolling over to new 401k Hello! I have recently switched jobs and am debating if I need to rollover my old 401K. I am curious as to what happens to the funds within my old 401K and capital gains on my investment when rolling over. For example, if I contributed $5000 in my old 401k but it grew to $7000, would $7000 be going into my new 401k? Sorry for a dumb question but…

New job doesn’t have 401k but old job did. What to do with that account I worked at my old job for about 2 years and have 14k in their 401k. I left two months ago and started a new job with no 401k. What is best way to manage that account now? Is there anyway my old job can screw me out of my money? I made 130k last year and should make 150k at least this year. Appreciate any insight. submitted by /u/Doonz2 …

what happens to my 401k when i quit my job? i’m planning on quitting my job in august. i have been contributing 4% pre-tax to my 401k since 2020, employer matched. its got over 13k in it now. i’m just wondering what happens to that when i quit? i’m having a baby and planning to stay at home for a few years so there’s no new employer to roll it over to. i don’t necessarily need to take the…

Is being able to put $500 per month into a 401k/roth good enough? New grad nurse. Making $51 an hour. After bills I can contribute $500 in either Roth or 401k a month. Is that good enough? I feel very behind. I have $32,000 in student loans, but no debt otherwise. I was never taught good financial habits and my parents have filed bankruptcy twice, have severe debt, etc. I was never taught how to do these thing…

401k Withdrawl (62M) Stage 4 Cancer My father (62) has terminal cancer and would like to withdraw his 401k (50k) to gift to his children. Other than the expected income tax, is there any reason not to do this and name a beneficiary instead. submitted by /u/Efficient-Record-634

What to do after maxing out 401k, Roth IRA and HSA? Hi all, I am currently maxing out my 401k (and employer match), Roth IRA and HSA every year. After all three of those are maxed out, I have also been investing in my brokerage account (mostly a broad Vanguard 3-fund domestic, international and bond account), and occasionally individual stocks, T-bills and bonds, though I mostly stick to index fu…

Help Allocating 401k Funds to Match Total World Stock Index Funds Can someone let me know how to see the breakdown of the Total World Stock Index Fund to see what current percentages are? Specifically how it would break out into the following categories: US Large Cap US Mid Cap US Small Cap International Large Cap International Mid Cap International Small Cap Thanks! submitted by /u/CivilProjectEngine…