401k
I am leaving my company. My question is do I roll over my 401(k) into another 401(k) where I’m going to start work or do I roll it over into an IRA or something like that
Terry Says
I would suggest you contact Fidelity (1-800-FIDELITY) or Vanguard (1-800-VANGUARD) and ask for their IRA rollover department. They will help you do all the paperwork for a DIRECT TRANSFER so your rollover is not impacted by taxes. Then you will have to choose a couple of mutual funds for your investment. If you have at least 20 years until retirement, I would put at least half in the S&P 500 index fund, and if closer to retirement maybe use their balanced fund or equity-income fund for half of your assets, and divide the balance into more conservative funds.
Then, be sure to sign up for the 40lk plan at your new company!!
