Comments on: Where’s The Best Place to Roll Over a Retirement Plan?

By: Ricky Develo

Ricky Develo — Tue, 30 Jun 2009 20:47:43 +0000

Great advice and i like how you present the 3 different options. I wrote a post about choosing the Best Rollover IRA that you might find useful as well!

By: Leonard Bynum

Leonard Bynum — Wed, 02 Jul 2008 16:49:31 +0000

I am turning 62 in September this year and retiring from my second job on 1 November this year. I have a 401 through my current employer and company stock that will be available this year for a roll over. It is around $190,000 and an additional amount year to be allocated may be provided next year. I have signed up for social security effective 1 November, but am limited to earnings of $14,000. per year in the future to avoid affecting my social security. My questions are what should I roll over my funds into so that I can make a decent return yet have access to my funds for other investements. I want to withdraw funds next year to buy a house to rent out. When I withdraw those funds will they affect my social security or is that not considerd earnings? I also have some funds in the government thrift savings plan, metlife investments, and a CD type investment. I would appreciate any advice.
Leonard Bynum

By: lou kraciun

lou kraciun — Tue, 21 Aug 2007 20:38:09 +0000

I am nearing retirement and am thinking of rolling my company sponcered 401k to an agent with New York Life.
Could you advise me on if this is the proper way to go or are there better options. Also what kind of maintence fees are common.

By: Sam

Sam — Fri, 15 Dec 2006 18:13:51 +0000

I’m waiting for zecco.com to offer IRA’s. Commission fees may someday be a thing of the past for people who don’t need overpriced advice!

By: Free Money Finance

Free Money Finance — Fri, 15 Dec 2006 11:21:32 +0000

Star Money Articles for the Week of Dec. 11

Here are interesting posts and news this week from the MoneyBlogNetwork members and beyond: AllFinancialMatters advises on the best place to roll over a retirement plan. MightyBargainHunter lists 118 ways to save money in college. Five Cent Nickel list…

By: yabadaba

yabadaba — Thu, 14 Dec 2006 19:47:23 +0000

My wife just changed jobs and had approx the same amount in her 401k. We did a rollover IRA to T Rowe Price and the process couldnt have been smoother. Some 401k administrators (Merill Lynch) require that you personally have to call/via website have to initiate the roll over. My wife got a really nice call from one of the specialists at T Rowe Price informing her that they tried to initiate the transfer but cos of Merrill Lynch’s policies she’d have to initiate it. But once that was done, the rollover happened within a week. ML also charged a fee of 25$.

By: Russell Bailyn

Russell Bailyn — Thu, 14 Dec 2006 16:38:21 +0000

How right you are Walterg… and you always have the option of buying the same Fidelity funds found in your 403(b) in your brokerage account if you felt so inclined. I like your method- five carefully selected value stocks. I know which ones I’d go for

By: Walterg

Walterg — Thu, 14 Dec 2006 15:46:29 +0000

I agree. My biggest fear is that I rollover to my current employers 403b (a large state university where Fidelity is the provider and good mutual fund options too!) but latter in life wish I had moved it to my Reg-IRA account where I can probably beat the a S&P 500 index with a group of 5 high quality dividend-paying stocks and some time investment.

By: JLP

JLP — Thu, 14 Dec 2006 15:42:14 +0000

Walterg,

You raise a point that I didn’t even think about and that’s moving it to a new employer.

I would only move it if you like the investment choices available at the new employer. However, remember that once you make the move, there’s really no backing out.

Finally, I don’t see how having it in a brokerage account is any more work than an employer plan as long as you have an asset allocation plan and stick to it. Also, remember you can use those target funds which basically allocate for you. I’m not a big fan of these funds because they seem to hold too much in bonds, but some people like them.

Thanks for the comment.

By: Jeremy

Jeremy — Thu, 14 Dec 2006 15:32:43 +0000

If your current employer has some good low-cost fund options, then yes rolling it into your new employer’s plan is a fine option. If you have a smaller plan with limited options and expensive funds, even though it may be more work to keep up with your investments, it will save you money.

So there is no right or wrong answer really, it just depends on what your current fund offers. Some companies offer great funds with low fees, others don’t.