Comments on: How to Roll Over Your 401(k) When You Leave or Lose Your Job – The 401k Rollover

By: Jeremy Vohwinkle

Jeremy Vohwinkle — Wed, 01 Feb 2012 20:25:38 +0000

@bwarfield Nothing to be very concerned about in terms of taxes. As long as you roll it over properly into an IRA there are no tax consequences for doing so. And once the money is in the IRA it remains tax-deferred until the money is withdrawn. So you can buy, sell, trade, receive capital gains and dividends, and all of that within the account and it will not trigger a taxable event. Instead, you defer all taxes to withdrawal, at which time the money you take out is then taxed as income.

By: bwarfield

bwarfield — Wed, 01 Feb 2012 20:21:53 +0000

I’m going rollover and old 401K into a on-line brokerage account and manage it myself. I’ve researched investments strategies and will likely use IBD’s CANSLIM. My question is whether there are any tax issues or mistakes to avoid in rolling it over and trading stock myself?

By: Tony

Tony — Fri, 28 Oct 2011 18:28:37 +0000

Thanks for the info.

By: Sherry

Sherry — Wed, 14 Sep 2011 18:44:39 +0000

I am 53 and had to take an early distribution for financial reasons from my previous employer profit sharing program. I would like to rollover (within the sixty day time period) a percentage of it into a IRA or such to defer the income, taxes, and penalties under next year (when I will need to take an early distribution of it then). Can I do this or is there a time period that I will have to leave it in the IRA? Thank you.

By: Jeremy Vohwinkle

Jeremy Vohwinkle — Tue, 30 Aug 2011 14:57:28 +0000

It depends on the company, but generally speaking it can take a few weeks for the entire process, although it can happen sooner. If it has been a few weeks and you haven’t heard anything you may want to follow up with them and see if there was a problem. Sometimes it’s just a minor issue with the paperwork and they are slow to contact you about what is needed to push the roll over through.

By: randy

randy — Tue, 30 Aug 2011 02:33:18 +0000

how long can a investment comany take to rollover my funds to another ira??

By: Leonard Roland

Leonard Roland — Tue, 09 Aug 2011 00:50:06 +0000

Mother in Law is 63 and quit her second full time job and has $5000 in 401 k fund. what is her best option? Cash out, she is over 59 1/2? Her annaul income is less then 40000. How much tax and pentalty would she have? What would her benefit be if she rolled it into another IRA?

By: julie w

julie w — Sat, 30 Jul 2011 23:26:45 +0000

Don’t forget those of us GenX’ers who are facing or dealing with reality of divorce! QDRO’s are a main asset for many of us, and there is VERY little help out there!
This is a HUGE transaction and lots of the regular 401k rules are different

By: sombo m vorng

sombo m vorng — Sat, 23 Jul 2011 17:00:22 +0000

What is the special emergency situation that the president promises that you could withdraw 25% of your retirement without being penalized?

By: Kim Burney

Kim Burney — Mon, 09 May 2011 03:39:00 +0000

My husband became disabled and recently resigned from his job after getting Social Security/Disability. I have been diagnosed with a terminal disease and we were wondering if once we rollover his 401K plan to an IRA can we take a distribution without penalty for medical costs? We are both under age 59 1/2. Thank you.