Hey been a lurker for a few months and have learned so much. I just am very confused and looking for help. So I work 2 jobs and one offers 401k and ira accounts through vanguard. I been paying in my 401k but then I found out a roth ira is much better so I finally opened one and I misunderstood how it worked? I thought I could fund the roth ira in the same way I could my 401k through payroll deductions but I need to fund it with cash apparently. So I also learned I need a certain amount of money in my roth ira to even invest any money. I saw lots of people say invest in VTI and VOO I think and they have 3000 minimums to invest and I just feel overwhelmed cause now I feel like I wasted time putting into my 401k since if I quit I won't get my employers half which sucks since I never planned on staying here for years let alone retire. I have 1200 from about 2 months of paying into my 401k. I make about 5200 per month before taxes about 4600-4800 after tax.
1.So I want to know can I keep my employer vested money if I withdraw the money before I quit?
- If no is there anyway I can keep my employees vested money.
- Can I roll over my 401k into my roth account?
- What should I do now to maximize saving and investing?
- How can I keep my money working?
original posted by Woozydan187 to r/personalfinance on Wed, 06 Mar 2024 21:50:17 GMT.