To roll over or not to roll over is the…
I’m 44yrs old w/ 15k and change to leave in John Hancock Investments, roll over to new employers 401 w/ Vanguard, or go somewhere like Fidelity (their commercial sell me) and do an IRA or Roth. Do you run an investment company also? Can you guide me. I’d like to retire by 70 the latest with an income of 5 or 6 thousand a month…I think?
Terry Says
That’s a lot of questions. Typically if you leave a company, unless they have some special “stable value” funds paying a lot higher interest rates, you should roll over to a traditional IRA rollover account at Fidelity or Vanguard. You’ll do fine just choosing the S&P 500 stock index fund.
You probably don’t want to convert to a Roth unless you have money outside your account to use to pay the taxes. Tax brackets may remain at their lowest levels this year, so if a conversion doesn’t move you into a higher bracket, that would be the opportunity for tax purposes.
I don’t have an clients, but I did recently publish a new edition of The Savage Truth on Money, which you can buy on Amazon, and it will shed light on all of your questions.
