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Post by bnj123 on Jan 9, 2011 19:29:47 GMT -5
I recently left a job for a new one. I have the option of rolling my previous 401k into my current employers plan but would prefer to invest it seperately. I have a mix of traditional 401k and roth 401k funds. I've looked at IRAs and Money Markets but I'm not sure what company is best to go through. I've heard a lot about Fidelity. I've got a ways until retirement (I'm 25) so long-term is what I'm looking for. Does anyone have any experience/suggestions?
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MN-Investor
Well-Known Member
Joined: Dec 20, 2010 22:22:44 GMT -5
Posts: 1,977
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Post by MN-Investor on Jan 9, 2011 23:54:32 GMT -5
You certainly want to move your assets out of your old company's plan. I believe the 401(k) portion can go to a traditional IRA and the Roth 401(k) portion can go to a Roth IRA.
Fidelity has a good reputation and lots of experience with both 401(k)s and IRAs. They should be able to answer all your questions.
I currently have a 401(k) with my old company (I know, I should have rolled it over years ago). Fidelity is the company which manages it. I had questions last week about Net Unrealized Appreciation (a special situation which arises when you have highly appreciated employer stock with a 401(k)) and Fidelity answered the questions I had regarding that. I feel comfortable opening accounts at Fidelity to roll my 401(k) into.
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TD2K
Senior Associate
Once you kill a cow, you gotta make a burger
Joined: Dec 19, 2010 1:19:25 GMT -5
Posts: 10,931
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Post by TD2K on Jan 10, 2011 0:06:30 GMT -5
I wouldn't move my old 401k into my company's plan unless there were some very good investment options that you could not duplicate on your own. Usually, you just have more flexibility transferring them to an IRA.
Fidelity and Vanguard are both good choices. Sorry, I don't have any specific interest on fees, you'll need to talk to them about that.
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Gardening Grandma
Senior Associate
Joined: Dec 20, 2010 13:39:46 GMT -5
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Post by Gardening Grandma on Jan 10, 2011 9:21:53 GMT -5
When I retired, I left my 401K with my old company for several years until I found exactly where I wanted to roll it over to. If it's in decent funds, what's the hurry?
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Taxman10
Senior Member
Joined: Dec 29, 2010 15:12:43 GMT -5
Posts: 3,455
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Post by Taxman10 on Jan 10, 2011 9:27:10 GMT -5
I used Vangaurd and found it very easy. they have a wide selections of funds, but i just took the "easy out" and chose the target date retirement fund.
good luck!!
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Deleted
Joined: Nov 22, 2024 2:29:41 GMT -5
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Post by Deleted on Jan 10, 2011 9:37:06 GMT -5
Do NOT roll it over to your current employer's plan. It's a one-way street; if you decide later you want out, you have to quit or claim financial hardship. I made this mistake once. Never again. Even a good employer plan can get changed without your input. I agree with GG that you can leave the funds where they are now if it's a good plan and take your time making a move.
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runewell
Established Member
Joined: Jan 3, 2011 15:37:33 GMT -5
Posts: 395
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Post by runewell on Jan 10, 2011 10:10:54 GMT -5
I'm always disappointed at the choices available to me. They think their expense ratios are reasonable but I know I could lower ones elsewhere. Plus obviously a much larger array of offerings. The only benefit to sending it to your employer is having all your money place, and that truly is no benefit at all.
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Jake 48
Senior Member
keeping the faith
Joined: Dec 20, 2010 16:06:13 GMT -5
Posts: 3,337 
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Post by Jake 48 on Jan 11, 2011 10:21:55 GMT -5
I left my 401k in place, company absorbs the management costs that are charged by JP Morgan for statement etc..New employer municipality, is defined benefit pension, I contribute 9%, town is always under funding their contribution then trying to play catch up, I know this is a sore spot with alot of people because your taxes fund my pension, but the state allows them not to meet their obligations and nothing is said about that.
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