NEED HELP IN UNDERSTANDING THE BEST WAY TO GO!

[Guest cash]

HELLO! I DONT KNOW A LOT ABOUT 401K AND I HAVE 1 BUT IT ONLY HAS ABOUT 100.00 DOLLARS IN IT FROM A OLD JOB .I HAVE A NEW JOB NOW AND I CAN;T START THE 401K UNTILL MARCH. I DONT KNOW IF IT IS A ROTH OR NOT ?I WOOD LIKE TO KNOW CAN I HAVE TWO 401KS' IF SO SHOUD I BE PUTING MONEY IN TO THE OLD ONE UNTILL I CAN DO THE OTHER ONE. NEED HELP WITH ALL THIS 401K STUFF...... THANK YOU

[R. Butler]

A couple of things:

1. I am assuming you no longer work at the old job. Is the money still in the old employer's plan? If yes, it is unlikely let you keep such a small amount there. It sounds like you want to keep it invested. You probably want to roll over into an IRA or your new employers plan.

2. If you are no longer employed at the old job you cannot contribute to that plan. You can set up an IRA or a Roth IRA and make contributions to that.

You probably should go to your tax preparer or an investment advisor that you feel comfortable with & let them give you advice. They'll be able to sit down with you and analyze your financial situation. Ask a lot of questions until you understand exactly what they are advising you to do & why they are advising you to do it.