Talk of The Villages Florida - View Single Post - Advice pls
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Old 12-17-2020, 07:59 AM
Tankerrich Tankerrich is offline
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Quote:
Originally Posted by retiredguy123 View Post
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.
Did the same in 2014. Moved 401K into IRA. Had a financial advisor. Never looked back. IRA opens up everything to you. 401K locks you into what your company's group selected for you to invest into.