Thoughts on rolling over a 401k from a previous employer to an IRA?

Investing
#1

Any thoughts on rolling over a 401k with fidelity from a previous job to and IRA? Is there a $ amount limit? Thanks for any thoughts/suggestions.

#2

I always rollover all former employer sponsored retirement accounts to an IRA as soon as I leave the company. (The one possible exception is if you plan on doing a backdoor Roth IRA every year… you might consider leaving it or moving it to your new 401k).

There’s no limit, and it’s not a taxable event as long as you don’t also “convert” it to a Roth IRA. Just do a “direct transfer rollover” to a rollover IRA, sell everything that’s in there (if necessary) and buy the index fund(s) you want.

Here’s an article on why you should rollover:

#3

Thank you so much! I wish I knew this 8 years ago when I left that job. :woman_facepalming:

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