Left my old company and transferee the 401k to a Rollover IRA. They had to cash it out into this so I’m debating if I should just start investing in the Rollover IRA account or if I should transfer to my new companies 401k. Any other advice?
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Left my old company and transferee the 401k to a Rollover IRA. They had to cash it out into this so I’m debating if I should just start investing in the Rollover IRA account or if I should transfer to my new companies 401k. Any other advice?
Is your whole old 401k composed of Roth and traditional? Roth portion can go to a Roth IRA. Traditional go to a traditional Ira. You will do a reverse rollover (I.e. transferring your traditional IrA into your new 401k plan) only if you plan on doing backdoor Roth conversion so you don’t trigger the pro rata rule.