Hi all,
I’ve had an old 401K sitting in my old employers plan for a few years now. I’m trying to figure out what the best move is. Their plan is really good as it’s a very large tech company that can negotiate great rates in their 401k plan. For this reason, I’ve left my money in it.
Wife and I just crossed the income max limit for ROTH, so we no longer contribute there. We both are current putting in enough to match employers funds while paying down student loan debt and afford child care (4 kids!). Emergency fund is around 2-3months.
Our current retirement funds using round numbers but pretty close:
My Old employers plan: $100k
My Current employers plan: $100k
My ROTH IRA: $50k
Wife’s 403b: $60k
Wife’s Roth: $10k
We live in an average COL area that we love and want to stay at. Our careers should both grow, hopefully mine more than hers (she’s nearing her ceiling as she likes to work less hours to spend more time with kids as her salary grows). We will probably top out around $275-300k combined.
Ive been fine leaving it alone in my old employers plan but not sure if that’s been wise. I’ve read the prime directive and I think we are following that fairly well. Just lost on this piece. Whats the best use of my old 401k money? Keep it there, roll it into current play (I’d say it’s above average), or move to an IRA?
Thanks in advance
Submitted July 22, 2020 at 10:44PM by jimmydeanCA78 https://ift.tt/2ZPjPjN
