The mechanics of rolling over the assets from the 401k to the IRA.
The decision of what to do with the assets once they’re in the IRA.
The most important thing in step 1 is making sure you don’t trigger taxes. If you do a direct transfer, there’s ~0 risk of this. But if you withdraw the funds from the 401k and then deposit them into a new IRA, you face greater risk of being taxed, either because you end up forgetting to deposit into an IRA in time or because the paperwork gets dorked up.
I’d contact the IRA place (Vanguard, Schwab, Ameritrade, whoever) and tell them you want to establish a new Rollover IRA and ask them to handle the direct transfer. They should be happy to do it.
Once the money is in the IRA, invest in low-fee passive index funds.
But dammit the fade Riverman strategy has to be a road to riches. So there’s something there.
It’s like how I always want to take the wrong exit when two freeways meet (N vs. S or E vs. W) - like 90% of time - way worse than random. Something inside of me knows the right answer and always picks the wrong one.
You can’t be a top tier meme stonk by doing things like earning cash. You need stuff like Teslas orbiting the earth, Gigafactories and science fiction like business plans that have no basis in reality.
lol, sold my TSLA this morning at $1556. Felt like super pro trader for a few hours…Now I’m wondering if I should have waited for the Q2 earnings report.
No way I would ever have the heart to bet either way on TSLA. this stonk is just bananas. One of my favorite 22 moments was TS talking our good friend Awice out of going all-in on TSLA stock and the Awice got furious when it went through the roof. I wonder if he ever finally decided to buy.
Awice made what 100k betting on Trump on 22? It was some absurd number so him getting talked out of a fortune by 22 moron legend TS brings me great joy.
Awice made 5 figures betting on Trump and then said he moved all of it into Bitcoin when it was <$9k. I really hope he went all-in on TESLA. The man is just a legend at making wildly irresponsible gambles on memes and winning every time.
Look at the fees you’re paying at FT and the fees at somewhere like Vanguard. You can get low fees everywhere nowadays but sometimes you need to be careful. I am going to move everything to Vanguard the first chance I get not because they necessarily have the best fees but because they have a track record of integrity and offering low fees not because they have to due to competition but because it is the right thing to do. It’s like choosing to shop at Aldi’s instead of Wal Mart even though Wal Mart might have lower prices.
so the rally since yesterday AM was because the Fed basically pulled a China and demanded people buy stocks? Or did they imply there’d be more support from them allowing people to do this?