The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: WHAT TO DO WITH MY 401K Date:  9/3/1998  2:57 PM
Author:  2gifts Number:  5318 of 90110

I just did this same thing this morning for a 401k that was still with a company I left almost a year ago. When I left, they gave me a form to roll over the 401k, so I just filled that in with the name of my existing IRA, and sent the forms off. If you don't have the right forms, you can call the personnel department and they can send them to you. You can also ask the place where you're setting up your IRA if they have transfer forms, and you can give them the information to have it all moved. My preference was to deal with the holder of my 401k to make sure it all gets done right, but it can be done either way.

Also, I mixed the money in with an existing IRA, which you can do. But you might want to have a separate IRA in case you ever want to roll that over into another 401k. If you co-mingle the funds, you will lose that ability with this money. As I have a significant 401k at another previous employer as well as a 401k here at my current employer, I don't plan on putting these other funds in another 401k plan. I prefer to have that money be in a self-directed IRA at this point.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us