Quote:
Originally Posted by Whostheboss
There are plenty of threads on this topic but i need a quick answer, i don't want to scroll through pages and pages.
I left my old company and i have some money saved up in my 401k, i'm fully vested in all the money in there.
Question: Should i roll into IRA? Roth IRA?
or
Should i roll into my new jobs 401K? (this is highly unlikely)
Thanks
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There is a lot of context needed to fully address this question.
What type of all-in expenses are you encountering with either option? This includes the fund fees and the management fees (if you, or your firm's 401k program, has a financial adviser).
What is your expected retirement timeline? How far out are you?
How much are you contributing?
How much do you plan on withdrawing after retirement and in what kind of increments?
Those are just a few questions that should be answered.
My advice: go find an independent registered investment adviser (RIA) or certified financial planner (CFP) in your locale and get his/her expertise on these issues...I strongly recommend avoiding any big corporate investment advisory groups (like Edward Jones) or any big investment banks (UBS, ect.) because while they definitely have some smart people there, they also have a major incentive to bring you in as a client, even if its not in your best interests.
If you are going to seek out an IRA option on your own (outside of a corporate 401k) I would highly recommend looking at Vanguard's offerings; not only are they at the forefront of low-cost index-based investing, they are owned by the fund investors (ie you), not by some mogul billionaire or alliance of hedge fund managers...they're a lot less likely to leave you, the client, high and dry if the market craps itself.