Here's my recommendation: have him roll the 401(K)funds into a rollover IRA (make sure it's opened asa rollover account - I got burned this way by a localbank several years ago. If you roll into a non-rolloverIRA, rolling the funds back into a qualified plan couldbe a problem). Anyway, once the funds are in theIRA, he can manage it himself. If he goes back towork for a regular company, and he likes their choiceof options, he can always roll back out to their plan.Otherwise, just keep running the IRA (even if he alsoparticipates in their plan). This also works well if heelects the self-employment route, since he can setup an SEP and make his deductible contributions(presumably to the same account - I can't imaginewhy that wouldn't be allowed). I am in the processof rolling an IRA from PaineWebber to Waterhouse,that contains 401(K) funds from my previous twoemployers (before I decided to strike out on my own).
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra