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| You have 2 choices, roll the old 401k into a IRA rollover account or ask your new employer if they accept rollovers from other plans. If you really like the old plan call the provider and ask them if they have the same set up as an IRA and you can compare fees. Unless the old plan is spectacular, you will probably be better off combining the small assets of the old with the new. "mandg" <gscanga[at]email.uophx.edu> wrote in message news:k4OdnSVZ6rxWX6LcRVn-rQ[at]comcast.com... - quote - > I have a 401k with ~$30,000 but have recently switched jobs. I enrolled into > the new companies 401k and am now wondering if I should roll the original > balance into this new account. Does anyone have any reasons for merging the > two accounts or leaving them separate? Thanks. > -- > Gary |
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| In article <k4OdnSVZ6rxWX6LcRVn-rQ[at]comcast.com> , mandg <gscanga[at]email.uophx.edu> wrote: - quote - > I have a 401k with ~$30,000 but have recently switched jobs. I enrolled into
I like to have personal control over my money, and I like to have> the new companies 401k and am now wondering if I should roll the original > balance into this new account. Does anyone have any reasons for merging the > two accounts or leaving them separate? Thanks. more options than what most 401K plans offer. As a result, I would consider rolling the old 401K into a rollover IRA at a brokerage, discount brokerage, or a bank that does stock brokering. -john- -- ================================================== ================== John A. Weeks III 952-432-2708 john[at]johnweeks.com Newave Communications http://www.johnweeks.com ================================================== ================== |
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| "mandg" <gscanga[at]email.uophx.edu> writes: - quote - > I have a 401k with ~$30,000 but have recently switched jobs. I enrolled into
Does your old 401k plan offer better/lower cost investment> the new companies 401k and am now wondering if I should roll the original > balance into this new account. Does anyone have any reasons for merging the > two accounts or leaving them separate? Thanks. alternatives than the old one? Otherwise combining them will save you a little paperwork and record-keeping in the long term. If you aren't real happy with the investment alternatives offered by either your old or new 401k plans, another option is to roll the money from your old plan into an IRA account. If you have extra cash sitting around to pay the taxes, you might also do a Roth conversion on it (unless your income is too high). -Sandra |
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| I have a 401k with ~$30,000 but have recently switched jobs. I enrolled into the new companies 401k and am now wondering if I should roll the original balance into this new account. Does anyone have any reasons for merging the two accounts or leaving them separate? Thanks. -- Gary |
| Tags |
| 401k, accounts, merge |
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