Talk of The Villages Florida - View Single Post - Advice pls
Thread: Advice pls
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Old 12-16-2020, 02:03 PM
retiredguy123 retiredguy123 is online now
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Originally Posted by Rga20 View Post
Now that I've finally retired what do I do with my 401k. Don't anticipate needing the money but don't want to lose it either. Appreciate your inputs.
I would suggest that you set up an IRA account with Vanguard or another low cost investment company. Then, do a direct transfer of all assets from the 401K account into the IRA, and maintain a similar asset allocation. I would not feel comfortable leaving my money in a 401K plan when an IRA allows me to totally control the assets and how they are invested. And, you will probably save money on the management fees. It was one of the first things I did when I retired.