Quote:
Originally Posted by Rga20
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.
|
As a long time corporate finance manager, your question indicates that you would probably benefit from a Certified Financial Planner, CFP. That way, the CFP could explain the investment risks and strategies, tax implications, and how a trust(s) would help your entire estate.
An employer sponsored 401(k) has limited options, and moving to a self directed IRA will provide more investment options, able to be tailored to your risk profile, which is the reason why posters recommend you change custodians or financial service companies.
However, without understanding the size of your estate and investments, there are tax favorable strategies for taking larger distributions than the minimum at different times. If you don't need the money, then leaving a distribution in a taxable account with proper investment strategy is a future step
But get some professional tax and investment help