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Author: ajirwin Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76398  
Subject: WHAT TO DO WITH MY 401K Date: 9/3/1998 1:27 PM
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I quit my job 14 months ago and went into business for my self...now that im through the first year and have time to take stock in other areas of my life, I need to find how to convert my 401k into a IRA so i can get my money into an INDEX FUND that has lower fees...and so I have more control over my money...my former company more or less just gave me this 401k..and like most foolish (small f) people...i paid little attention to it...now Im slightly 401k ignorant...any help???thanks in advance
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Author: peppermintpatty Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 5315 of 76398
Subject: Re: WHAT TO DO WITH MY 401K Date: 9/3/1998 2:12 PM
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Hi! First step might be to select an IRA provider who will supply you with all the forms necessary to transfer your 401k funds... PP

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Author: jvanscoy Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 5316 of 76398
Subject: Re: WHAT TO DO WITH MY 401K Date: 9/3/1998 2:29 PM
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<<<I need to find how to convert my 401k into a
IRA so i can get my money into an INDEX FUND that has lower fees...and so I have more control
over my money..>>>

If all you want is an index fund, Vanguard has the lowest costs of any. You would just get an IRA kit from Vanguard and open an IRA account with them. Then direct your company to transfer your 401k to the Vanguard account. If you want to buy stocks as well, you would need to open an IRA account with a discount broker who also sells mutual funds. I use Waterhouse. They have Vanguard and many other mutual funds available.

Regards, Jim

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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 5318 of 76398
Subject: Re: WHAT TO DO WITH MY 401K Date: 9/3/1998 2:57 PM
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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.

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