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waterspout4
My loves
Member since 5/06 19150 total posts
Name:
Kelly
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What to do with the 401K when you are no longer working?
I am not getting another job with a 401K. Has anybody just kept it with the company that been doing the investments for our job? Do I contact our accountant to see what he thinks? I truly am stupid when it comes to money and investing. I will not cash it out though.
TIA for any advice on who to talk to.
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Posted 1/17/12 6:11 PM  |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
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Re: What to do with the 401K when you are no longer working?
I would roll it over to a personal IRA so I would be able to control the investments instead of going through my former employer. Usually, the investment company who handles the 401k plan will be able to open an IRA account if you don't have someone you use for financial advice.
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| Posted 1/17/12 7:33 PM |
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waterspout4
My loves
Member since 5/06 19150 total posts
Name:
Kelly
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Re: What to do with the 401K when you are no longer working?
Posted by Christine
I would roll it over to a personal IRA so I would be able to control the investments instead of going through my former employer. Usually, the investment company who handles the 401k plan will be able to open an IRA account if you don't have someone you use for financial advice.
This is what I was wondering. I wouldn't want to keep it with my former employer as they sold the company. I was wondering about keeping it with the investment company. Thanks!
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| Posted 1/17/12 7:37 PM |
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Re: What to do with the 401K when you are no longer working?
You would roll it into a traditional Ira. You should talk to someone about the type of product that would be best, for sure.
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| Posted 1/17/12 7:38 PM |
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waterspout4
My loves
Member since 5/06 19150 total posts
Name:
Kelly
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Re: What to do with the 401K when you are no longer working?
Posted by greenybeans
You would roll it into a traditional Ira. You should talk to someone about the type of product that would be best, for sure.
Best to talk with my investment company, or my accountant?
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| Posted 1/17/12 7:39 PM |
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Re: What to do with the 401K when you are no longer working?
Go to your bank with the statement. They have people who you can talk to for free.
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| Posted 1/17/12 7:39 PM |
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Re: What to do with the 401K when you are no longer working?
Find out if the option to keep it there exists and then go from there. You may be able to pick your own funds anyway.
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| Posted 1/17/12 7:40 PM |
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Re: What to do with the 401K when you are no longer working?
I don't think you will be able to keep the Ira where you have it without a fee. You can do a cd or money market Ira without any fee. It depends how much money you have in there.
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| Posted 1/17/12 7:41 PM |
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LiveAgain
Listen close....
Member since 8/07 3545 total posts
Name:
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Re: What to do with the 401K when you are no longer working?
Call me 
There are a TON of options available for you. Let me know if you have any questions!
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| Posted 1/17/12 8:11 PM |
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waterspout4
My loves
Member since 5/06 19150 total posts
Name:
Kelly
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Re: What to do with the 401K when you are no longer working?
Posted by LiveAgain
Call me
There are a TON of options available for you. Let me know if you have any questions!
You surprise me everyday. Michael is still up, but I will send you a message.
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| Posted 1/17/12 8:17 PM |
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