Investing, Stock Market and Retirement Planning Thread

[NTP66]

oh dear lord

[mac5155]

This inspired me to check my 401k contributions. I am at 10% pretax 3% Roth. I switched to 8% pretax and 5% Roth. I don't want to do a full blown conversion yet, but should I tip the scales in favor of the Roth 401k more?

Also is there a way to verify what bucket my employer match is going towards?

[MrKennethTKangaroo]

Probably can look in your historical activity or a monthly statement and see where it is classified

[Beveridge]

A new rule this year is that employers can now designate a match as a Roth Contribution which is HUGE and I'm jealous of anyone working for an employer that will do this.

do you have any extra info on this? my company offers a roth 403b which both mrs litt and i take advantage of but the employer match is done pre tax. would love to share this with our benefits team for their input if a roth option is available

I don't know if everything is ready to go for it (shocker), but here is something I found right now.

https://www.asppa.org/news/secure-20%E2 ... n%E2%80%A6

[Beveridge]

This inspired me to check my 401k contributions. I am at 10% pretax 3% Roth. I switched to 8% pretax and 5% Roth. I don't want to do a full blown conversion yet, but should I tip the scales in favor of the Roth 401k more?

Also is there a way to verify what bucket my employer match is going towards?

Most likely it's going into the the pretax bucket. I haven't seen/heard of any employers doing 401k roth contributions yet. I'm not even sure how that's going to all play out.

Any of you public tax guys have any clients go that route yet?

[Shyster]

I have been 100% Roth 401k since I started at my firm. The contributions from my firm are also Roth. I don't have any pre-tax retirement at all.

[Beveridge]

You might want to check on that. Unless I'm mistaken until Secure 2.0 passed, employer contributions were always Pretax.

[skullman80]

Finally remembered i needed to rollover my old 401k to my new employer. Seems kind of silly they have to send me a check and can't just do it directly, but oh well. At least once I get the check I can just snapshot it in the fidelity app and upload it that way to deposit it.

[NTP66]

Finally remembered i needed to rollover my old 401k to my new employer. Seems kind of silly they have to send me a check and can't just do it directly, but oh well. At least once I get the check I can just snapshot it in the fidelity app and upload it that way to deposit it.

Who was your old 401k through? I haven't heard of a physical check requirement in ages. Also, make sure that the check is made payable to the exact name required (contact your new firm for that).

[skullman80]

Finally remembered i needed to rollover my old 401k to my new employer. Seems kind of silly they have to send me a check and can't just do it directly, but oh well. At least once I get the check I can just snapshot it in the fidelity app and upload it that way to deposit it.

Who was your old 401k through? I haven't heard of a physical check requirement in ages. Also, make sure that the check is made payable to the exact name required (contact your new firm for that).

Old 401k was through Empower, new is through Fidelity. It doesn't seem like it's a Fidelity thing, more of how my new employer wants to do it...or at least it seemed that way from when I talked to someone from Fidelity about rolling stuff over.

On your second point...I called and got the exact wordage for the check from Fidelity so that way it goes in smoothly and is considered a direct rollover and not an indirect etc.

[Dickie Dunn]

When I left the wealth management company my 401k was rolled over via personal check to me as well. Was super weird.

[MrKennethTKangaroo]

401k rollovers are amazingly archaic. Same with hsa rollovers.

[NTP66]

Source of the post Old 401k was through Empower

Interesting - my current 401k is with Empower. It's a weird one, with custom funds with no ticket symbols and everything.

[mac5155]

401k rollovers are amazingly archaic. Same with hsa rollovers.

Yeah. I rolled my wife's over and remember just hoping and praying I did it correctly. Nothing like having a 6 figure sum of money floating around somewhere.

[King Colby]

The fun part was the tax hit when I put it in a Roth IRA

[Beveridge]

401k rollovers are amazingly archaic. Same with hsa rollovers.

Yeah. I rolled my wife's over and remember just hoping and praying I did it correctly. Nothing like having a 6 figure sum of money floating around somewhere.

I had to rollover Roth and Non Roth for my wife. That was a wild week of hoping it all worked.

[skullman80]

Well they got my 401k check to me in two days (called them Wednesday). UPS delivered it via express delivery and just set it on my porch. Wind could have blown it away if I wasn't here. They could have at least put it inside the screen door.

I did the mobile upload to my new employer today after verifying everything. If all goes well should be in my new employer account early next week. Not to shabby of a turnaround time I guess.

[dodint]

As smooth as a Charlotte layover.

[skullman80]

Yeah still won't breathe easy until it actually goes in my new 401k account, but I have the check in my hands if nothing else. Probably the biggest check I'll ever see in my lifetime haha.

[NTP66]

Physical checks in 2024... insanity.

[skullman80]

Checked my 401k this morning and my rollover is showing in my fidelity account. So basically 3 business days to get it down. Check mailed wednesday, did upload of check image friday...money in new 401k monday. Not to shabby all things considered.

[mac5155]

Are there any negative effects of rolling over a 401k when the market is at an all time high?

[skullman80]

To be honest I didn't think about that. Maybe there is, but I needed to get it done...so it is what it is haha.

[NTP66]

With such a small window between exiting and entering, don't even think about it. The market didn't skyrocket while your money was being transferred.

[mac5155]

My buddy said he rolled over at the last high and was getting screwed. I didn't quite follow cause if you sold and bought within a few days sure your cost basis would be different but your gross value would still be the same wouldn't it?