Hi,
I was wondering if someone could answer a question for me. I''m 53.5 and got laid off 2 months ago. I started work with a new company this month and am going to roll over my 401k to my new employers plan. I have both before tax and after tax money in my ex employers 401k and want to roll the already taxed money (not 401K Roth) into a Roth IRA and the pre tax money into my new employers plan so I can access it before I turn 59.5 when I retire early. I know that I can put the money into the Roth since the 2014-54 ruling, my question is if I put the after tax 401k money into an existing Roth I started in 2007 can I take out those contributions before 59.5 without the 10% penalty?
Any help would be appreciated.
Regards,
Rich
I was wondering if someone could answer a question for me. I''m 53.5 and got laid off 2 months ago. I started work with a new company this month and am going to roll over my 401k to my new employers plan. I have both before tax and after tax money in my ex employers 401k and want to roll the already taxed money (not 401K Roth) into a Roth IRA and the pre tax money into my new employers plan so I can access it before I turn 59.5 when I retire early. I know that I can put the money into the Roth since the 2014-54 ruling, my question is if I put the after tax 401k money into an existing Roth I started in 2007 can I take out those contributions before 59.5 without the 10% penalty?
Any help would be appreciated.
Regards,
Rich