No. of Recommendations: 0
I'll retire this summer, at 59.5. My employer, a large public University, has its pension fund managed by a local insurance company. I have the option of leaving my pension there or establishing a rollover IRA. I'm leaning toward the latter, using Fidelity Funds. Something keeps me from completing the forms, though. Fear, no doubt. Has anyone out there done this with Fidelity? Are they good? My objectives are to maintain control of my own retirement funds, to keep about .5-.67 of it in fairly conservative investments, and to manage the remainder more aggressively, moving out of funds and into stocks as I become comfortable with this new activity.
Print the post Back To Top
No. of Recommendations: 0
If the issue in your mind is Fidelity vs. anyone else; fear not. I have been a Fidelity customer for 20 years & have been well treated.

TheBadger
Print the post Back To Top
No. of Recommendations: 0
I've had both R/O IRAs and a variable annuity with Fidelity. In both cases they were fine to do business with. The only recommendation I would make is that you compare their management fees with other companies, e.g. Vanguard, etc. They used to be a little high.
Print the post Back To Top
No. of Recommendations: 0
To estabilish a rollover IRA and manage it yourself is definitely Foolish. You can read the boards here and get investment ideas. To choose Fidelity is a good move; possibly others are better, but if you want to make a change later, you can do that. You could start with Fidelity and later roll half the money to Vanguard or to a discount broker, or use the discount brokerage services of Vanguard or Fidelity. The important point in your situation is NOT to take control of the money yourself; have your pension custodian make out the check directly to the new custodian of your choice. If they send the check, made out to Fidelity or whomever, to you for forwarding, that is OK.
Welcome to Fooldom! Chris
Print the post Back To Top
Advertisement