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Where does the Goldman Sachs money go??
"Canuck57" wrote in message ... On 26/04/2010 12:59 PM, nom=de=plume wrote: wrote in message ... On 25/04/2010 11:10 PM, wrote: On Sun, 25 Apr 2010 21:18:39 -0600, wrote: On 25/04/2010 7:16 PM, wrote: My real problem is, this will put us past the evil $250k mark if I try to roll it all at once and the IRS will come after me. Pray tell what is the $250K mark? Some penalties? And roll it into what? IRA? Capital gains amount?? If you make over $250k the Obama tax increases really smack you. Rolling it to a IRA shouldn't be a big deal but my roll over wasn't over $250K so I didn't go there. But I don't remember any such limit. The key is making sure the money shows up in the IRA promptly. If you have a tax pre person, this is a 1 minute question, I would ask. I suspect you can roll it over without issue. Also need to consider vesting if some of it isn't yet vested. In which case just roll over the vested part. -- Socialism and statism are great as long as someone else pays for it. Vesting? That only happens if the company does a match of some of the money. Some companies have instant vesting of 401K money. Others require some sort of wait. Why would you be in a 401k if they didn't match? Why not a IRA then? In an IRA you can self direct it better with a much more diverse set of options. Hell, I transfered out of the US and left it open for 1 more year just to vest before I rolled it over into an IRA. It was part of the equasion. -- Socialism and statism are great as long as someone else pays for it. You could put more money in a 401k than an IRA would be one reason. And watch what you invest the IRA in. |
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