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Leaving a job is a major transition filled with mixed emotions. Amidst the excitement and nerves, don't overlook the retirement account you’re leaving behind. Since your 401(k), 403(b), or 457(b) represent a portion of your future savings, choosing what to do with it is an important decision. To help you find the best fit for your financial goals, here are four common paths to consider, along with their advantages and drawbacks. Choice 1.) Leave your 401(k) with your f

What is a “Backdoor” Roth IRA? A “backdoor” Roth IRA is a strategy used by high-income earners to contribute to a Roth IRA when their income exceeds the official IRS limits. Converting to a Roth IRA requires careful execution to avoid unexpected taxes. While most people convert Traditional IRA funds, you can also rollover 401(k) assets from a former employer into a Roth account. To execute a “backdoor” conversion: 1.) Open a Traditional IRA and make a nondeductible con