Not directly but you can roll it over to a Traditional IRA first then convert that IRA to a Roth.
You must have a roth ira open. When you are separated from your employer, or turn 59.5, you can instruct your employer to directly roll your 401k over to the roth ira.
There is one main difference between a 401k and a Roth IRA. The maximum contribution limit for a 401k is about three times that of an IRA.
First you need to do a 401k rollover to Roth account. You will need to open a Roth IRA account. Do a 401k rollover to a Roth IRA online with any brokerage firm online. If you do find a brokerage firm that wants to charge you a fee to do a 401k rollover to a Roth IRA then pick a different one. You can get more assistance or help with more information by visiting http://hubpages.com/hub/401k-rollover-to-roth-ira
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not. A Roth grows tax free, while a 401k is taxed when you withdrawl the funds.
Not directly but you can roll it over to a Traditional IRA first then convert that IRA to a Roth.
You must have a roth ira open. When you are separated from your employer, or turn 59.5, you can instruct your employer to directly roll your 401k over to the roth ira.
One needs to roll their 401k to an IRA. One needs to physically authorize the removal of the 401K funds to the new location. If the IRA is at the same institution as the 401k, less paper work may be involved.
It is very costly to roll your 401K into an IRA. 20% is withheld for taxes to start with. You might consider a Roth IRA to save a little bit.
There is one main difference between a 401k and a Roth IRA. The maximum contribution limit for a 401k is about three times that of an IRA.
First you need to do a 401k rollover to Roth account. You will need to open a Roth IRA account. Do a 401k rollover to a Roth IRA online with any brokerage firm online. If you do find a brokerage firm that wants to charge you a fee to do a 401k rollover to a Roth IRA then pick a different one. You can get more assistance or help with more information by visiting http://hubpages.com/hub/401k-rollover-to-roth-ira
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not. A Roth grows tax free, while a 401k is taxed when you withdrawl the funds.
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Is your question can you have both a ROTH and Traditional IRA? If so, yes you can.
One might find detailed information as to a Roth IRA vs a 401k at Schwab's website. Schwab offers a lot of pros and cons of having either a 401k or a Roth IRA.
You can roll your 401(k) to a Roth IRA. A Roth IRA is pre-taxed dollars, so when you withdraw the money upon retirement, there will be no taxes on it as the taxes are already paid. You'll find this article helpful: http://www.kiplinger.com/columns/kiptips/archives/yes-you-can-roll-over-a-401k-into-a-roth-ira.html
Yes. But it is much better and no taxes will be withheld if you have the trustee do a direct transfer from the 401K trustee to the IRA trustee and you do not receive any of the funds in your hand.