[mitchntx]

I don't understand all I know about legalized money laundering, AKA rolling a 401K.

Backstory ...

I have been contributing to a 401K and receiveing a company match in stock at 60% for a while now ... maybe 20 years.
My comapny is being bought and taken private.
As I understand it, if the buyout is approved by the shareholders, my stock will be cashed out at the approved price and I will be issued a check. (IMG:http://www.frrax.com/rrforum/style_emoticons/default/blink.gif)
Taxes will be withheld (IMG:http://www.frrax.com/rrforum/style_emoticons/default/mad.gif)

Help needed ...

If I roll it into another approved option within the specified time frame, I can recoup the taxes next return. I understand that.

But I want to avoid the tax thing altogether. I want to maintain that 28% of the fund in my retirement and continue it growing.

I need some coaching on doing this as I don't understand all I know about it and time to educate myself is running out. Making a mistake or misunderstanding a small detail could have big financial ramifications.

[CrashTestDummy]

Ask around locally. They are out there. Make sure they are certified, although that doesn't guarantee anything. We found a good one locally to us, Texas Wealth Management. Unfortunately, they have been so successful, I don't think they are taking any new clients right now.

Do you have a CPA to do your taxes? Ask him/her. That is how we found our planner. If not, ask friends who have CPAs for their taxes. Most CPAs know financial planners (or are themselves), because they are usually asked that question almost on a daily basis.

We were in the same boat, getting a nice lump sum stock conversion when the company I worked for was bought by sprint. Getting a financial planner was the best thing we did (beside killing a lot of debt).

[GlennCMC70]

...... when the company I worked for was bought by sprint.

and who was that? i was Nextel up to a couple years ago. now my work life sucks ass thanks to Sprint. (IMG:http://www.frrax.com/rrforum/style_emoticons/default/nutkick.gif)

[CrashTestDummy]

...... when the company I worked for was bought by sprint.

and who was that? i was Nextel up to a couple years ago. now my work life sucks ass thanks to Sprint. (IMG:http://www.frrax.com/rrforum/style_emoticons/default/nutkick.gif)

Paranet. IT Services consultancy that sprint thought would be a great idea to get into. Unfortunately, all they know is dial tone. After paying top dollar for it, and running it into the ground, they sold off the remains for pennies on the dollar.

Luckily, I was mostly in the division's corporate office, maintaining their datacenter, so got little interaction with actual sprintoids, up until the bitter end. I was one of the guys who turned the lights off in the data center on the way out the door, but only after packing up most of the server equipment and shipping it to sprint datacenters elswhere.

Interesting to note, that sprint eventually got out of that business, and the hosting business. I started working for the company who bought their hosting centers after they bailed. I have seen some systems that may be my old systems. ;-)