Should I Stay in a Traditional 401(k)?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 22 April 2022

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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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, 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.
0:12.5	All right, we're going to move on to Harrisonburg, Virginia.
0:17.1	Luke joins us there.
0:18.3	Luke, welcome to the show.
0:19.7	Hey, man, how's it going?
0:22.1	Great.
0:23.1	How can I help today?
0:24.1	So I started a new job about two months ago, and finally got all the paperwork taking care
0:31.5	of the notes that I'm ready to roll over my 401 from the previous job.
0:36.9	Okay.
0:37.9	Just a traditional 401K account, but I'm kind of the side.
0:42.3	You know, what the advantages are if I to roll it into like my own personal account or
0:49.0	into the new job and whether I should transfer it to like a Roth or just keep it as traditional.
0:53.6	Some great questions you're asking.
0:55.4	How old are you?
0:56.4	31.
0:57.4	31.
0:58.4	31.
0:59.4	And with this new job, do you know what investment options they have for retirement?
1:03.6	Yes, there's a traditional and Roth, and they use a lot of fidelity accounts just like
1:10.4	their difficult 2050, 255 retirement funds.
	...

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