[Sloan]

I have a bunch of 401ks through various jobs I’ve had over the years. Where and how do I put them in the same account if I don’t have a current employer 401k because I’m going to stay at home with my kids for a while?

Also, my husband just opened his own counseling practice and we are looking at hiring… Any tips/tricks/things you wish you had done or known as a new employer? Lastly, is a SEP-IRA the best way to go for a retirement fund for him!/the business?  Ideally we would like to try to support our future employees with some type or retirement fund.

[Michelle]

With no employer account, you’d roll them into IRAs, the same time as how you contributed (Roth or traditional). Note that if you ever need to backdoor Roth, having a traditional IRA would be an issue. If you don’t ever expect that, you’d just choose a brokerage firm and contact them to figure out exactly what you need to do to roll everything together (then make sure you invest it and reinvest dividends and capital gains).

[Author]

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