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Personal Finance and Investing

True Blue American

(18,209 posts)

3. If your old company sends the check to you it can cost a fortune too.

Reply to question everything (Original post)

Wed Oct 9, 2024, 04:22 PM

Oct 9

For some reason I checked my IRA. It had zero in it.they said they were sending it to me. I told them I did not give them my permission, and put it back. I then called my bank who turned me over to a Financial adviser. He had it sent to me and him,rolled it over. He said that would have cost you a fortune in Taxes. I just draw out my minimal. The person I leave it to will have to draw it out in ten years..

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Highlight:

Changing Jobs Can Put a $300,000 Dent in Retirement Savings - WSJ [View all] question everything Oct 9 OP

The SECURE 2.0 Act mandates auto-escalation for new 401(k) and 403(b) plans starting in 2025 Shermann Oct 9 #1

True, but only as a default Lemonwurst Oct 9 #2

If your old company sends the check to you it can cost a fortune too. True Blue American Oct 9 #3

You have 60 days to get the distribution into a new retirement account. nt Shermann Oct 9 #4

I ultimately rolled over my old TSP Happy Hoosier Oct 11 #7

RMD's are a good problem to have. You want to have that problem. Shermann Oct 11 #8

With 401ks you need to pay attention Joinfortmill Oct 9 #5

When I began in tech, at the early part of the field... slightlv Oct 9 #6