By Terry Savage on April 29, 2024 | Financial Planning / Retirement

Hi Terry. I have 40m in a 401k account at my old employer which cannot be transferred “in kind”. Once current investment is liquidated, I understand I cannot touch any funds in the account or I will pay tax. My question is..can I have those funds transferred to an existing IRA account I already have at a brokerage firm or do I have to open a brand new account there to keep funds separate ? I have small amount of shares in an index fund there and want to add to that position. Thank you

Terry Says

You could transfer it directly to your existing IRA at a brokerage firm — OR go to a much lower-cost place to grow your money.

Read this:  Rollover Now – Terry Savage

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