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Thread: question about 401k

  1. #1
    made_of_sequins
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    Default question about 401k

    If I start a 401k for the self-employed while I'm dancing, what happens with that after I get a job where I'm no longer self-employed? I don't want to dance past age 30; I plan on nursing, and will be an employee then. So what happens with regard to the self-employed 401k?


  2. #2
    Banned Melonie's Avatar
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    Default Re: question about 401k

    ^^^ if you dissolve the 'sole proprietor business' that sponsored your Solo 401k plan, you will basically have the following two options ...

    - pay the early withdrawl penalties and do whatever you want with the remaining funds

    - roll over the full proceeds of your Solo 401k plan into a 'new' individual IRA account managed by the same investment house that managed your Solo 401k

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