6 (SURPRISING) Reasons to Do a 401k to IRA Rollover BEFORE You Retire...

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Title	:	6 (SURPRISING) Reasons to Do a 401k to IRA Rollover BEFORE You Retire...
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Can you have multiple rollover accounts so that you can keep it separate 401ks into rollover accounts in their respective brokerage companies?
Comment from : May Yang

or better yet an IUL or an annuity
Comment from : ESTHER Olawuyi

Another reason to transfer: My Roth 401k and my Pretax 401k are in the same account It will not let me separate the pre-tax withdrawals from the after-tax withdrawals, but requires an pro-rata distribution from all the investments I also cannot invest the Roth 401k money differently than Pre-tax Roth All withdrawals from my 401k have pre-tax and after-tax components making everything more complicated tax-wise
Comment from : Dave Carton

Do you have a video of rule of 55T? I know there are a million videos on it but I would like you to go through the example because I like your videos brbrSay a person has 15 mil in Roth 401K 15 Million in Trad 401k
Comment from : THEDEERKING

1:38 certain government employees (including state and local workers, police officers, firefighters, and some teachers), as well as highly compensated employees of non-profit organizations with a 457b have no age limit as long as they are retiring or ending their employment
Comment from : Ron

Can you do a video on having a mortgage in retirement? Dave Ramsey says take out a 15 year loan and pay it off faster Rick Edelman says take out a 30 year loan and never pay it off The logic from both of them makes sense What do you do with mortgages?
Comment from : David Walatka

Would you recommend spreading the roller over into multiple custodial companies? For FDIC protection?
Comment from : swingman50

A brand new wrinkle in the state of Michigan They recently passed a change where IRA withdrawals may be an allowed 'subtraction' for income tax purposes, reducing state income tax However, 401(k) withdrawals (where you've made contributions above minimums), are NOT an allowed subtraction So it might be withdrawals from 401(k) are subject to state income tax while IRA withdrawals might not Just passed this change in March and need to find more info about the change, but if you live in Michigan it may be a factor
Comment from : Mike Fochtman

Wait, so for reason 5, even if you designate your child as the beneficiary in the 401k, that gets disregarded and it is your spouse? That sounds deceiving
Comment from : Alan Young

Rolling a 401(k) to the same custodian to reduce out-of-market time is brilliant!brbrOne curve ball about rolling over in chunks: in my experience, 50 of 401(k) plans require 100 of funds to be withdrawn if any funds at all are withdrawn
Comment from : Bruce Stiles

As a young, career change advisor, I really appreciate how in depth your videos always are I always learn something new
Comment from : Corey Merrills

I learned a few things here but will continue to keep 70 in my investments in my 401k my only reason for doing that is protection for lawsuits My investment strategy is the same in both accounts So far I think it is worth all the rules and hassles of the 401k I feel this should have been mentioned
Comment from : Just Us

Appreciate your great information on this video, if we do in plan 401k Roth conversion, will pro rata rule apply to the conversion?
Comment from : Gi C

After my 401k crossed 15 million in 2019 I did an in service rollover with 70 of my Fidelity BrokerageLink account to a rollover pretax and Roth IRAbrMy 401k was self directed anyway and can do the same as IRA so that wasn't an issuebrI just wanted to set things up for income payout ahead of timebrRetired debt free at 49 in 2020 Retirement portfolio crossed two millionbrThanks to Covid I got an early out package with paid healthcare and pension with other savings,taxable investments,passive income,and 20 year emergency fund so no financial issues
Comment from : BlackWorldTraveler

Good video I plan on converting to Ira after retiring for the flexibility, might keep some in the 401k but I never thought about the mandatory withholding differences Good point
Comment from : Lake DualSport

In reason 3, RMD complexity, you said that a couple can aggregate their IRAs and take the total RMD from a single IRA Don't they need to do the aggregation of IRAs separately for each spouse? In other words, doesn't each spouse need to take his/her own RMD from his/her own IRAs? After all, IRAs are individual not joint accounts
Comment from : N Howe

Thank you!
Comment from : Cliff Luxion

Suggestion for future subject, cover what IRMAA brackets will be or an estimate in 2024 (based on 2022 income) for us to plani end of year income this year As always great video
Comment from : Tom Z

I did my 401K to IRA rollover at Fidelity a number of years ago I was worried that I would be out of the market for a day I was assured that I would stay in the market during the rollover by my Fidelity advisor Turns out my advisor was wrong, the market had a big up swing so I was out about $45k I called my advisor immediately and complained To my amazement Fidelity adjusted my account so I was made hole What a standup company Fidelity is
Comment from : B Miles

1 Read 401K/403B protect from law suits and bankruptcy Some states give same protection to IRAs, but may not be solid 401K/403B protectionbr2 Heard 403Bs are not subject to RMD?
Comment from : Just Forfun9140

TIAA 403B allows distribution from a specific fund or pro-rata, your choice Vanguard 403B: Newport administers, their system can only handle pro-rata, forces loss of your money when money comes out of declined stock funds while having sufficient money in stable value fund
Comment from : Just Forfun9140

Good video, but the key reason I will not roll over into an IRA is the loss of ERISA creditor protections I feel that every discussion of a 401k to IRA rollover should highlight this as perhaps the biggest negative to the rollover which should be balanced with the positives
Comment from : Matthew Morse

#7 - Roth 401Ks have RMDs
Comment from : Mike D

I think another estate related one is if you you are leaving it to a secure act EDB (like a disabled child) I saw a Kitces webinar that said the company 401k plan does not have to allow the lifetime scretch and can still dictate 10 year period
Comment from : Slim Dawg