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I have a small amount of money in a 401(k) from a previous job. It is under a $1000. My new job will not accept it. What would be the best way to invest it?
No. of Recommendations: 0
Shelly,
While the answer totally depends on a lot of factors, one approach could be to transfer it to an IRA. If you plan on taking advantage of the Roth IRA in the future, then move it over and pay the conversion tax.
GP
No. of Recommendations: 0
I have a small amount of money in a 401(k) from a
previous job. It is under a $1000. My new job will not
accept it. What would be the best way to invest it?
Based on the extensive information provided, roll to an IRA and then convert to a ROTH. Invest in a stock index fund. Use a large mutual fund family and look for the lowest costs.
