No. of Recommendations: 5
Hey RoadScholar ... I'm glad that you are in a position to set your sails on a Foolish course. I'm not a scholar but do consider mayself a "retirement practitioner" so I'll take the easiest part of your question and let others advise you from there.

When I was working at my second employer, I participated in their 401k and tookl full advantage of my employer's match. I contributed the maximum as I could almost see the finish line that I'd cross at retirement which was fast approaching.

The 401k had OK choices so I was fairly happy with those but there was something that stuck in my craw. Every time I made a contribution the numbers didn't add up to properly reflect the balance of my investments. Month after month I seemed to be losing more than $60. I came to discover that the 401k was set up to withdrawl "expenses and fees" in a clandestine manner. I spoke to my company's plan administator about this and was told that that was the way it was contracted with the 401k provider. And my administrator saw nothing wrong with this arrangement!!! I was paying well over $800 a year for the priviledge of participating in this 401k!!!

Well, I tell you, that the first thing I did upon leaving that employment was to move the funds from that 401k into a "Rollover IRA" at another brokerage.

So I'd advise you to make sure that your "orphaned" 401k is serving your investment needs and if not, don't hesitate to take control and move the funds into a Rollover IRA.

James
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