I left my job this year and rolled over my 457(b) and 401(k) benefits into a rollover account with Fidelity. Now what? I didn’t realize I’d have “cash to trade.” Can I use/invest all of it or are there limits?
It typically gets rolled over as cash instead of holding the same funds that you’ve previously had. But YES, you can invest all of it!
1 Like
Gotcha. I didn’t realize that, I thought it’d hold the same funds. Also, I started investing but then slightly freaked out when I realized there may be restrictions or limitations so thank you for clarifying that for me. Looking fwd to reinvesting the rest of it!
Good thinking! You might be thinking about the contribution limits for IRAs that are $6K/year? Luckily your rollover IRA money is unrelated to that limit, so you can still contribute $6K to your Roth IRA.
1 Like
Yes, my exact thought! Thanks so much
1 Like