close
    I have a 401K from a past employer and am considering rolling over to an alternate retirement account. What would my best option in choosing another plan or staying with my current account.

    +1  Views: 220 Answers: 2 Posted: 13 years ago

    2 Answers

    If you have a good full service broker, I'd consider moving your 401K to him.  You can roll your 401K into a Rollover IRA.  Please make sure that you open a separate IRA account from this rollover position, the reason being that in many states there are benefits tax-wise when you make the withdrawal as compared to a Tradtional IRA.  If you comingle the rollover amount with your other IRA accounts, you could very well have eliminated any tax benefits you may have.


    Your new broker can presumably guide you through your asset allocation based on your risk tolerance, age, etc.  A company's 401K specialist would be less inclined to help with your specific investments.  Ask around to see if you can interview some brokers. 

    Chiangmai said it all. Find a broker first and roll it over to IRA.



    Top contributors in Uncategorized category

     
    ROMOS
    Answers: 18061 / Questions: 154
    Karma: 1102K
     
    Colleen
    Answers: 47269 / Questions: 115
    Karma: 953K
     
    country bumpkin
    Answers: 11322 / Questions: 160
    Karma: 838K
     
    Benthere
    Answers: 2392 / Questions: 30
    Karma: 760K
    > Top contributors chart

    Unanswered Questions

    Shanghai Exquisite Biochemical Co., Ltd
    Answers: 0 Views: 6 Rating: 0
    acb8buzz
    Answers: 0 Views: 6 Rating: 0
    33win Wd Com
    Answers: 0 Views: 7 Rating: 0
    789CLUB
    Answers: 0 Views: 10 Rating: 0
    skecherscomvn
    Answers: 0 Views: 11 Rating: 0
    > More questions...
    497885
    questions
    733618
    answers
    834397
    users