ST Alpha - "Get as much free money as you can. Usually this means taking advantage of employers' 401(k) match." (Reading a Post)

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In response to "awesome. i need to get one opened. Fidelity ok? I have a 401k with them.. also, should I be rolling my old 401k into something?" by colin

Get as much free money as you can. Usually this means taking advantage of employers' 401(k) match.

Posted by nubby Oct 30 '13, 09:46

After that, dump money into the IRA up to the limit.
Yes, roll over the old account so that it can keep making money.

Responses:

current employer matches $1.33 for every dollar in up to 6%.. i'm maxed there. the old 401k still is making money, has investment choices - colin Oct 30, 10:03 1
- I would really just roll it over to save the hassle of logging in and checking, managing two accounts. - peggy ann mcamanda Oct 30, 10:06
Hijack. Say I give 4% more than my employer match percentage to my 401K. Should I put that 4% in a Roth IRA instead? -- nm - ty97 Oct 30, 09:47 10
- It really depends - same thing as I said above about fees and investments - decline Oct 30, 09:58 3
  - 97, decline is a tax professional and is saying mostly what I said. -- nm - peggy ann mcamanda Oct 30, 10:03 2
    - well more of a retirement professional - decline Oct 30, 10:15 1
      - sorry. "97, decline is dollar sexy and is saying...." better? -- nm - peggy ann mcamanda Oct 30, 10:17
- It depends on the conditions of the 401(k). Put your money where it will (a) grow the best and (b, if there's a tie) be as liquid as possible. -- nm - nubby Oct 30, 09:52 4
  - I have a very good 401K program, many options, low costs. - ty97 Oct 30, 09:55 2
    - you won't get much better investments choices than you have in your 401k -- nm - decline Oct 30, 10:00 1
      - and I mean your employer specific one (not 401k in general) -- nm - decline Oct 30, 10:06
  - Personally, the state operates on fixed-contribution, so I have zero choice. -- nm - nubby Oct 30, 09:53
- I think yes, as you know. but I think it might depend on how aggressively you manage to your AGI. -- nm - peggy ann mcamanda Oct 30, 09:50

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Get as much free money as you can. Usually this means taking advantage of employers' 401(k) match.

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