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Ramsey Everyday Millionaires

Should I Roll My 401(a) Plan or Leave It?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.83.6K Ratings

🗓️ 27 September 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, John Delony, and George Kamel.

Transcript

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0:00.0

You're listening to Ramsey everyday millionaires where we talk retirement, building wealth,

0:10.5

and outrageous generosity.

0:14.0

Michaels with us in Wisconsin.

0:15.4

Hi, Michael.

0:16.4

How are you?

0:17.4

Good, Dave.

0:18.4

I can just get a quick question for you.

0:22.4

We've told you about a year ago, last month, you have a new punch in there through the

0:27.2

Not-Sortage System.

0:29.2

It's a 401A plan, there's about $60,000 in it.

0:32.2

I know you always recommend to roll that over when you leave or take it to a personal investment.

0:38.2

I'm wondering if I should do that.

0:41.2

In leaving that plan, you lose the employer contribution, which is about 50%, so that would

0:47.2

be $30,000.

0:48.2

I'm wondering what my best movies are, let it sit and access it when I'm able to and I'd be eligible

0:53.2

to which is age 50 or 30 years old in health or do I take that out and take the portion

1:00.2

and the loss invested.

1:04.9

The 401K plan at your old company does not vest your matching until you're 50.

1:12.0

It's a 401A.

1:14.0

I know, but that just means after tax is all that means.

1:18.9

They don't vest your matching.

1:23.1

That's true.

...

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