I left my previous job about 4 months in the past, which had a tax deferred retirement fund by means of TIAA. I’ve about $2K or one thing in it, however I do not know what to do with it
My present job provides a 50% match with their 401K plan – I’m at the moment enrolled of their 401K Roth, however it’s my understanding you could’t rollover a tax deferred retirement fund right into a Roth due to the completely different tax necessities.
Any recommendation on what to do with the cash in my previous job retirement fund? Do I simply withdraw it and pay the penalty/taxes on it? Or ought to I open up a 401K Conventional with my present job and simply let it sit in there? I figured a Roth IRA is healthier for me proper now as I’m 29 and in my earlyish profession so I figured (and hoped) I’ll be incomes extra afterward in life, and so the Roth is a greater possibility for me. I don’t learn about having each a conventional and Roth 401k however open to ideas please!
