401K Rollover
Hello Terry,
I am 51 years old and and currently work at a public school in Illinois. I used to work at a call center 9 years ago where I still have my 401K (fidelity) currently worth 59K. Its broken down in FTKFX, CSRIX, GSSUX, TRP RET 2035 & Fid Growth Pool A. My questions is do I continue to leave it, or roll it over it something else? Ive heard alot about Gold IRAs?
Thanks, Love Your Advise.
Terry Says
Oh don’t get swayed into doing something like that with your entire retirement fund. But you can roll over your old 40l(k) and have a wider choice of funds, including a gold stock fund.
Read this article on how to do a direct rollover:
https://www.terrysavage.com/rollover-now/
And if you use their brokerage option at Fidelity or Vanguard, you can use some of your IRA money to buy the gold ETF: GLD. I own that, and have nothing against it.
But the marketing pitch for these gold IRAs is really dangerous concentration in one asset, and likely involves fees and charges for the promoters!
