Comments on: EXACTLY How An In Service Rollover Works! Is It Worth It?

By: @hey8174

@hey8174 — Fri, 12 Apr 2024 20:29:02 +0000

I think beyond options.. are FEES! My provider does not offer in-service rollovers, and their management fee is pushing 2% annually. That’s cutting into the growth of the account. The match is 4%.. but 4% of MY salary, and as the account grows larger and larger, or more than 2 times my salary.. the 2% total account fee will dwarf my 4% salary match, essentially eliminating any value in matching at all.

By: @swamprat9018

@swamprat9018 — Fri, 12 Apr 2024 20:16:05 +0000

Thank goodness this was a short one so the Old guy did not put me to sleep. What y’all get new satin shirts so y’all can play on the satin sheets like a slip and slide?

By: @Jazzwealth

@Jazzwealth — Fri, 12 Apr 2024 18:01:39 +0000

In reply to @Hofftimusprime1. Thanks for watching! You should definitely talk to your advisor before doing so, but you can roll that 401k over to an IRA and then you could consider converting that Roth! Just depends on your situation :)

By: @crazykid-hd5kl

@crazykid-hd5kl — Fri, 12 Apr 2024 17:37:19 +0000

Does it work the same way for a solo 401k?

By: @Hofftimusprime1

@Hofftimusprime1 — Fri, 12 Apr 2024 17:36:04 +0000

This is up my alley. I left my job last July and had a 401k. I’m currently not working this year with no income coming in. Just living on savings. So you’re saying I can transfer that 401k to my Roth IRA penalty free, it just gets treated like income?

By: @Jazzwealth

@Jazzwealth — Fri, 12 Apr 2024 17:30:07 +0000

In reply to @jonathanfoster2263. That's the unfortunate drawback to employer sponsored plans. Sounds like you have a good plan going forward though! Thanks for your input!

By: @jonathanfoster2263

@jonathanfoster2263 — Fri, 12 Apr 2024 17:18:13 +0000

I had to wait until I was 59.5 in order to do an in service rollover at my employer. I hated the options on our 401K and the fees were pretty high. I am not going to a Roth though, it doesn’t make sense to roll my ira to a Roth until I get on Medicare at 65

By: @Jazzwealth

@Jazzwealth — Fri, 12 Apr 2024 17:15:56 +0000

Thanks for watching! Considering doing an in-service rollover but have some questions? Let us know below!