ROLLOVER IRA: 3 Reasons You Should NOT | Is rolling over your old 401k to a Rollover IRA really best? If you have an old 401k because you changed jobs or you’re now fully self-employed, the most popular choice is to move your old 401k into a Rollover IRA. You may want to hit pause on that, because it may not be the best move. In this video, I’ll share 3 equally great options you should consider, regarding what to do w/ your old 401k!
#old401k #rollover401k #districtcapitalmanagement
Skip ahead here:
0:00 – Rollover IRA: 3 Reasons You Should NOT
0:27 – Move old 401K to new 401K
1:49 – Keep it where it is!
3:46 – Rollover to a ROTH IRA if….
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***RECOMMENDED READING LIST***
The One-Page Financial Plan by Carl Richards (easy read, holistic + fun graphics!)
Simple, Smart Investing by Ian Kennedy (can help you construct your investment portfolio)
A Random Walk Down Wall Street by Burton G. Malkiel (classic book that sold me on index funds)
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Alvin Carlos is a CFP® professional and CFA® charterholder. His team helps professionals in their 30s and 40s to be smarter with their money. They help them optimize their investments, lower taxes, pay off debt, and have peace of mind.
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Skip ahead here:
0:00 – Rollover IRA: 3 Reasons You Should NOT
0:27 – Move old 401K to new 401K
1:49 – Keep it where it is!
3:46 – Rollover to a ROTH IRA if….
The info about brokerage access and backdoor Roth IRAs is great! Thanks Alvin!
Anyone having problems with what to do with an old 401K?
I was surprised to see that the CARES Act provides flexible hardship withdrawal options for 401(k) and individual retirement accounts.