Since I wrote the original post, I've done some research. The only way you can move Verizon webmail is by moving all emails from all folders into the Inbox, then go to Outlook and Send/Receive. Then re-file all the mail into the proper folders. It'll take some time.
The interesting thing I did find out about my Western Digital Passport Elite external backup is that when I started using Outlook, the backup stopped backing up my mail, folders, contacts, etc. My backup plan was set to back up Outlook Express mail, it wasn't smart enough to back up my new .pst files which is what Outlook uses. You can't change a backup plan once it's set up. I could have created a new backup plan but it never crossed my mind that my external backup wasn't getting my email backed up when I started using Outlook. I'm sure many people have been bitten by this.
Maybe if someone reads this, it'll save them from losing all email, contacts, tasks, folders, etc.