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19k from previous employer 401k
Posted on 2/21/17 at 8:59 am
Posted on 2/21/17 at 8:59 am
Not really great with all the investment stuff. I have 19k from a previous employer 401k in a Nationwide retirement account. I'm pretty certain that's not the best place for it.
Current employer 401k is through Fidelity, and I like the idea of rolling it over into that 401k to have the ability to borrow against it should shite hit the fan. I also know this isn't the best route to go at all.
What should I do with it?
Vanguard IRA? What funds?
Fidelity IRA?
Roll into current employer 401k?
Basically if it was your 19k how would you handle it.
Current employer 401k is through Fidelity, and I like the idea of rolling it over into that 401k to have the ability to borrow against it should shite hit the fan. I also know this isn't the best route to go at all.
What should I do with it?
Vanguard IRA? What funds?
Fidelity IRA?
Roll into current employer 401k?
Basically if it was your 19k how would you handle it.
8
Posted on 2/21/17 at 9:05 am to BoogaBear
Roll it into current 401k
Yikes
quote:
and I like the idea of rolling it over into that 401k to have the ability to borrow against it should shite hit the fan
Yikes
Posted on 2/21/17 at 9:46 am to BoogaBear
(no message)
This post was edited on 12/21/21 at 10:58 am
Posted on 2/21/17 at 9:49 am to BoogaBear
quote:
Basically if it was your 19k how would you handle it.
roll it over to a rollover IRA, put money in a broad index fund.
Posted on 2/21/17 at 11:51 am to BoogaBear
does your current employer offer any match to your 401K? if they do, roll it over and add to it their match and what you wish to contribute.
Posted on 2/21/17 at 1:05 pm to BoogaBear
Check the details of your current 401k. Many employers don't have the 401k setup to allow you to borrow against rollover money, ONLY the money you invest in your 401k earned from your current employer is eligible for those types of perks/benefits.
Posted on 2/21/17 at 2:31 pm to BoogaBear
With $10,000 or more you can get the Fidelity 500 Index Premium Class (FUSUX) which has an expense ratio of 0.045%.
Posted on 2/21/17 at 5:31 pm to BoogaBear
Roll it over to a vanguard ira and don't even think about borrowing against it.
Posted on 2/22/17 at 2:58 am to BoogaBear
Most 401ks have high fees and limited options.
Would use the opportunity to "liberate" the money and rollover into an IRA/Roth IRA I had full control over.
If you add it to the new 401k, you can't ever do that unless you leave the job.
Would use the opportunity to "liberate" the money and rollover into an IRA/Roth IRA I had full control over.
If you add it to the new 401k, you can't ever do that unless you leave the job.
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