Sam
๐ค SpeakerAppearances Over Time
Podcast Appearances
Good, good, good. I do have a, I've got a question. It's in regards to my 401k. So I have a 401k from a previous employer with about just a little bit shy of 500k in it. Haven't worked for them for about five years. But my question is, I'm thinking about possibly rolling it into a Roth IRA to avoid the taxes when I retire. And I'm just kind of wondering what kind of tax penalties am I looking at?
And is it even worth doing at this point?
And is it even worth doing at this point?
And is it even worth doing at this point?
Well, it's kind of half and half. So I've got traditional 401k, and then the other half is straight company stock. So, I mean, the return on that stock has actually been really good. Last year alone, I've reaped a 25% increase in it just because of the stock split that we've actually had.
Well, it's kind of half and half. So I've got traditional 401k, and then the other half is straight company stock. So, I mean, the return on that stock has actually been really good. Last year alone, I've reaped a 25% increase in it just because of the stock split that we've actually had.
Well, it's kind of half and half. So I've got traditional 401k, and then the other half is straight company stock. So, I mean, the return on that stock has actually been really good. Last year alone, I've reaped a 25% increase in it just because of the stock split that we've actually had.
No, I could definitely cash it out. Okay.
No, I could definitely cash it out. Okay.
No, I could definitely cash it out. Okay.
And I'll just have to pay taxes after or when I get ready to retire as I withdraw, correct?
And I'll just have to pay taxes after or when I get ready to retire as I withdraw, correct?
And I'll just have to pay taxes after or when I get ready to retire as I withdraw, correct?
Watch it.
Watch it.
Watch it.
Yes.
Yes.
Yes.
No. No.