401k Rollover Options 2023 (Rollover to IRA, to Roth IRA, or to New Employer)

Here are your 401k Rollover Options for 2023. In this video I explain the 401k Rollover to Roth IRA, 401k Rollover to IRA, 401k Rollover to your New Employer Plan, {Hey, I recently started a Financial Vlog - would like to invite you to follow along if interested: https://youtu.be/YnZrh9YwNQo - Kyle} as well as the option to NOT Rollover your Old 401k and to simply keep it invested with your old employer. When you're rolling 401k to Roth IRA there is a taxable consequence because you're moving your pre-tax money into an after tax account & you'll pay taxes based on your tax bracket for the year in which you initiate the rollover to Roth IRA & deposit the funds into your Roth IRA.

If your New Employer Plan has a Roth 401k Provision then you can rollover your old Roth 401k to your new Roth 401k and there will be no taxable consequence.

If you make too much money to be able to contribute to a Roth IRA due to income limitations and are interested in doing the Backdoor Roth IRA Strategy then you may want to consider keeping the money in your old employer 401k OR doing a 401k Rollover to New Employer....check out my Backdoor Roth IRA video OR Roth Conversion Explained video.

Hope you enjoy the video and find a nugget or two of information to help you on your financial planning journey.

—————
Call if you WANT TO ASK ME A QUESTION...
➡️ https://bit.ly/KSchollCoaching
—————
MY WEBSITE
➡️ https://www.kscholl.com
—————
Support the channel - random referral links:

➡️ BLENDERS SUNGLASSES: Get $20 off your order of $50 or more: http://rwrd.io/dhqkw4a

➡️ Nice & affordable WATCH STRAPS from StrapsCo: https://strapsco.com/?ref=161

➡️ My MAGNETIC COLLAR STAYS on Amazon: https://amzn.to/3q70ZPE

➡️ Hey! I'm using SoFi INVEST 📊 to buy and sell stocks (and pieces of stocks) with ZERO fees. Open an Active Investing account with $100 or more and you'll get $25 in stock. Use my link: https://www.sofi.com/invite/invest?gcp=0421e5e5-c276-4911-95e6-2959c7224a74&isAliasGcp=false

➡️ STUDENT LOAN REFINANCE WITH SoFi: https://www.sofi.com/invite/student-loans?gcp=4972425a-bd63-4c92-83ee-7dd55b8dade4&isAliasGcp=false

➡️ 50% OFF QuickBooks Online Subscription for first 6 months: https://refer.quickbooks.ca/s/kylescholl
—————
➡️ Share this video with a friend: https://youtu.be/v21Nao07zcg
➡️ Subscribe for more videos: https://www.youtube.com/channel/UCALNmpTTj_wesfLs5gkvklw?sub_confirmation=1
—————
OTHER VIDEOS YOU MAY LIKE
➡️ 10 Self Employed Tax Write-Offs: https://youtu.be/xz3N9wXPcxc
➡️ Backdoor Roth IRA Conversion EXPLAINED: https://youtu.be/AYo1FmwW3GM
➡️ Roth IRA Conversions EXPLAINED: https://youtu.be/Hzq9bcFnY0Q
➡️ Tax Rates: Marginal vs Effective Tax Rates: https://youtu.be/yVHk9obdti8
➡️ Tax Bracket Management: https://youtu.be/L6lMJd2dXn0
—————
Timestamps & Chapter Links
0:00 - Intro
1:55 - Don't do a 401k Rollover
2:29 - 401k Rollover to IRA
5:35 - 401k Rollover to IRA CONs
10:16 - 401k Rollover to Roth IRA
11:09 - 401k Rollover to New Employer
13:25 - 401k Rollover BONUS TIPS
—————

ABOUT ME 👇

I've been involved in people's financial decisions for 15+ years (7 yrs Real Estate experience & 8+ yrs as a former Financial Advisor)...I now bring the financial successes, mistakes, failures, and best financial habits/tips to you through these videos.

My mission is to bring Financial Awareness to the forefront of your daily decisions so you can: improve your quality of life, increase your net worth, and grow upon your financial literacy. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, entrepreneur, and of course...my experience as a Former Financial Advisor.

This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.

Subscribe if you are interested in:
#401kRolloverOptions
#401kToRothIRA
#FinancialPlanning

DISCLAIMER: I am not a financial adviser or a certified public accountant. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.

Видео 401k Rollover Options 2023 (Rollover to IRA, to Roth IRA, or to New Employer) канала Financial Awareness