What to you do with your multiple retirement funds from the jobs you held

[adventure]

PhysicianOnFIRE wrote:

Doing so does hinder your ability to make Backdoor Roth contributions due to the pro rata rule. I prefer rolling over to a 401(k) if it has decent fund options (or opening a solo 401(k) as suggested by Lithium).

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Peds wrote:

This then makes the backdoor rIRA atrocious, so no, don’t do this

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I'd thought I'd added a note about Roth limitations, but clearly forgot to type that note. Thanks!

[Peds]

adventure wrote:

Peds wrote:

1st your current job needs to actually accept them.
2nd the options and fees need to be better than where they are.
Otherwise do nothing.

Click to expand…

You can also roll the old ones into an IRA. We’ve done this to simplifiy things, and we don’t want to place all of our funds into the 401k/403b’s at our current jobs (too restrictive, lousy platforms, etc)

 

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This then makes the backdoor rIRA atrocious, so no, don't do this.

[MPMD]

Rolling 401ks into other 401ks is, in my experience, shockingly simple. I have done with with a phone call before. If not it's usually just like a one page form that you fax in.

Agree w/ POF would not roll into tIRA b/c it will nuke your ability to do easy backdoor Roth IRA.

[cgossage]

Vee Tee wrote:

Having worked in a big city, I have moved from job to job so accumulated a few retirement funds. Does it make a difference leaving things alone or bundling them up under one. I am clueless with finances. Thanks!

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You came to the right place to learn.

There isn't anything wrong with leaving them alone as long as you are happy with your investment options.  It just makes it a little more difficult to manage your asset allocation.  If you do roll them into one, roll into your new employer's 401(k) or 403(b) plan or your own solo-k.  This allows you to make future contributions to a Backdoor Roth IRA.  If you haven't done so already, you may want to consider making Backdoor Roth contributions for 2017 before the 4/17/2018 tax deadline.

[PhysicianOnFIRE]

adventure wrote:

Peds wrote:

1st your current job needs to actually accept them.
2nd the options and fees need to be better than where they are.
Otherwise do nothing.

Click to expand…

You can also roll the old ones into an IRA. We’ve done this to simplifiy things, and we don’t want to place all of our funds into the 401k/403b’s at our current jobs (too restrictive, lousy platforms, etc)

 

Click to expand...

Doing so does hinder your ability to make Backdoor Roth contributions due to the pro rata rule. I prefer rolling over to a 401(k) if it has decent fund options (or opening a solo 401(k) as suggested by Lithium).

[Lithium]

Open a Solo 401(k) if you have ANY earned income outside your job and roll it over there.

[adventure]

Peds wrote:

1st your current job needs to actually accept them.
2nd the options and fees need to be better than where they are.
Otherwise do nothing.

Click to expand...

You can also roll the old ones into an IRA. We've done this to simplifiy things, and we don't want to place all of our funds into the 401k/403b's at our current jobs (too restrictive, lousy platforms, etc)

 

[Peds]

1st your current job needs to actually accept them.
2nd the options and fees need to be better than where they are.
Otherwise do nothing.

[Vee Tee]

Having worked in a big city, I have moved from job to job so accumulated a few retirement funds. Does it make a difference leaving things alone or bundling them up under one. I am clueless with finances. Thanks!