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Updated almost 8 years ago,

User Stats

73
Posts
43
Votes
Anna L.
  • Investor
  • Philadelphia, PA
43
Votes |
73
Posts

Old 401k to Solo 401k or Old 401k to New 401k transfer?

Anna L.
  • Investor
  • Philadelphia, PA
Posted

Hi, I am newbie (just had my first successful flip). My plan is to start using 401k $ to fund next flips or buy and hold deals. 

Here are the two options I am thinking about: 

1. X-fer from old 401k to Solo and start investing

2. X-fer from old 401k to new 401k and borrow for future project

Here is my dilemma: it would take me few months to understand all the details about investing using Solo 401k. So, I don't feel comfortable to x-fer $ from my old 401k to Solo 401k yet. But, I know that I can only use prior employer 401k funds to do so. Now, I can x-fer $ from my old 401k to my new 401k to maximize the amount I can borrow. But I am afraid that I will no longer have an ability to x-fer to Solo 401k in the future, because all the funds would be with my current employer. 

Which option would you go with?

Thanks!

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