If I quit, will I get the option to get my retirement fund deposited in my bank account? I know some will say that's not convenient because of the large tax cuts, but I'm seriously thinking on going back to my country, so better go home with 2/3 of the money than nothing.
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Your best path is to request [from the Ford 401K custodian] to be sent to a check to Vanguard or Fidelity. If you don't have an account there, open one first, then proceed. Money goes into an IRA. No taxes unless you start taking some out.
- Much better investment options
- Once the money is in Vanguard or Fidelity, it is easy to do in-kind transfer to Roth
- Take out what you need from any specific fund. You choose!
Live is good. Enjoy it.
Yes, you can request that your 401k be distributed to you in the form of a check. If you don’t roll it into an IRA, and you cash it, you will be responsible for paying any taxes and penalties for early withdrawal to the IRS.
Also, asking a bunch of randos on a lay off site, does not constitute sound financial planning.