Comments on: Rollover Your 401(k) Directly Into Roth IRA http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html Retire happy, healthy and wise. Thu, 28 Aug 2008 00:24:13 +0000 http://wordpress.org/?v=2.6.1 By: Rich Men http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-64633 Rich Men Tue, 01 Apr 2008 19:07:37 +0000 http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-64633 Chris Roll your money over to a roth ira account....borrow against it for 60 day...and wipe your ass with it because you r screwed.....ha, ha, ha, ha Chris

Roll your money over to a roth ira account….borrow against it for 60 day…and wipe your ass with it because you r screwed…..ha, ha, ha, ha

]]> By: Chris http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-62927 Chris Wed, 27 Feb 2008 01:42:43 +0000 http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-62927 I am 23 years old and I have been putting about 5% in my 401k over the past year or so. I have about 4 grand in the bank. I left my company and I am no longer making contributions. The money is just sitting there, gaining marginal interest. What is the best thing for me to do? I am 23 years old and I have been putting about 5% in my 401k over the past year or so. I have about 4 grand in the bank. I left my company and I am no longer making contributions. The money is just sitting there, gaining marginal interest. What is the best thing for me to do?

]]> By: Scott Brooks http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-62249 Scott Brooks Sun, 17 Feb 2008 01:52:48 +0000 http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-62249 Keith & Pam, Generally speaking you can not perform a rollover unless: 1. You reach age 59 1/2 2. You leave the company or retire 3. The division you work for is sold to another firm (and your status changes) When you turn age 59 1/2 you can usually withdraw your contributions. I would call the custodian of your 401K plans and find out which options are available to you. Keith & Pam,

Generally speaking you can not perform a rollover unless:

1. You reach age 59 1/2
2. You leave the company or retire
3. The division you work for is sold to another firm (and your status changes)

When you turn age 59 1/2 you can usually withdraw your contributions. I would call the custodian of your 401K plans and find out which options are available to you.

]]> By: Scott Brooks http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-62065 Scott Brooks Fri, 15 Feb 2008 03:29:05 +0000 http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-62065 A big variable is future income tax rates. Those who believe tax rates will be higher,would be wise to take a long hard look at the benefits of the Roth. With medicare and SS so underfunded, I dont see how tax rates stay where they are. A big variable is future income tax rates. Those who believe
tax rates will be higher,would be wise to take a long hard look at the benefits of the Roth. With medicare and SS so underfunded, I dont see how tax rates stay where they are.

]]> By: retirehappy http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-61557 retirehappy Fri, 08 Feb 2008 19:22:25 +0000 http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-61557 I'm pretty sure that unless you leave a company you cannot rollover a 401(k). As for rolling it over into a Roth and paying taxes, there are income limits (those limits are lifted in 2010) but if you earn over a certain amount you can't do it. I’m pretty sure that unless you leave a company you cannot rollover a 401(k). As for rolling it over into a Roth and paying taxes, there are income limits (those limits are lifted in 2010) but if you earn over a certain amount you can’t do it.

]]> By: Pam http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-61503 Pam Thu, 07 Feb 2008 21:23:38 +0000 http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-61503 Keith - I have the exact same question...any answers yet? Keith - I have the exact same question…any answers yet?

]]> By: Keith http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-61123 Keith Sat, 02 Feb 2008 13:07:16 +0000 http://www.myretirementblog.com/rollover-your-401k-directly-into-roth-ira.html#comment-61123 I am under 50 years old and contributing the max to my company sponsored 401(k). I am planning on continuing to work at the same firm and funding my 401(k) for a number of years. However, I don't like the fund choices in our plan. I would like to rollover my current funds into either a traditional or Roth IRA at my bank where I can have more fund choices and a better rate of return. Can I rollover some or all of my current 401(k) funds into an IRA even though I am not leaving the company and not retiring? I already have an existing Roth IRA. Can I rollover funds into this exising Roth IRA and pay the taxes on it? I am under 50 years old and contributing the max to my company sponsored 401(k). I am planning on continuing to work at the same firm and funding my 401(k) for a number of years. However, I don’t like the fund choices in our plan. I would like to rollover my current funds into either a traditional or Roth IRA at my bank where I can have more fund choices and a better rate of return. Can I rollover some or all of my current 401(k) funds into an IRA even though I am not leaving the company and not retiring? I already have an existing Roth IRA. Can I rollover funds into this exising Roth IRA and pay the taxes on it?

]]>